It is difficult for an HR department to predict workforce needs for the future because planning for human resources can only be as effective as the firm's capacity to forecast external events, economic trends, ups and downs, rival activity, and a host of other factors over which the organization has no influence on.
It's challenging to foresee what talents and, consequently, what types of workers will be required even in the near future due to the rapid rate of change in the workplace. Employees no longer plan working at the same company for decades, and their moves sometimes take place without prior notice or even two weeks' notice. These sudden changes that come without prior notice make it far more difficult for HR teams to forecast for the future.
In the modern world, business expansion (or, conversely, recession) is impossible to forecast. Successful businesses may suddenly fail or experience revenue losses, necessitating unanticipated and uncontrolled worker layoffs. On the other hand, when businesses grow and prosper, they will also need more workers, and the skills they need will change.
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under a homeowner, which of the following is NOT covered by personal injury coverage?
There are several major risks that a standard homeowner policy does not cover.
Earthquake insuranceFlood insuranceHomeowner insurance and landslidesHomeowner insurance and moldWhat is insurance?Insurance is a means of protecting against financial loss where one party undertakes, for a fee, to compensate another party in the event of a specified loss, damage or injury. It is a form of risk management primarily used to cover risks of contingent or uncertain loss.
The following are some of the types of general insurance available in India:
health insurance. Motor insurance. Home insurance. Fire insurance. Travel Insurance.Insurance is a financial safety net that helps you and your loved ones recover from an accident, such as a fire, theft, lawsuit, or car accident. When you buy insurance, you get a policy, which is a legal contract between you and your insurance company.
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business question helppp, kind of math too?
Based on the income to Mallory, her cost of goods sold, and the total expenses, Mallory's gross income would be $3,000.
How to find the gross income?The gross income to a person or a company is the net amount between income and cost of goods sold.
This means that Mallory's gross income is:
= Income - Cost of goods sold
Income = $4, 000
Cost of goods sold = $1, 000
The gross income to Mallory is therefore:
= 4, 000 - 1, 000
= $3, 000
Expenses will only be subtracted for net income.
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Fred Khumalo is the internal auditor for about 10 years of a major insurance company that has both a short and long term portfolio. He enjoys all the perks offered to him and has been nominated to the board as a regional director. However, he had become aware that the CEO was processing claims that were redundant and siphoning funds into various accounts. When he questioned these transactions he was told to ignore the issue and merely sign off the audit records. He broached the issue with the CFO who told him to ignore it and pretend it did not exist. Even the COO and other members also shrugged and some did not even wish to comment, instead mumbling incoherent sentences and excusing themselves. Kuulo finally decided to approach the CEO directly and informed him that if he does not come clean, he will inform the shareholders. The CEO asked Khumalo to give the matter careful thought and not to jeopardize his poution-adding that if humalo seeks employment elsewhere, it will be impossible to find alternate employment or even start out on his own Two weeks later, without poor warning Khumalo was transferred to another branch where a position was created for Fox effect, thamalo had been fired Diss Khumalo's right to blow the whale on the CEO?
Based on the fact that Khumalo was was fired for trying to blow the whistle on the CEO, his rights to blow the whistle was violated.
What are the rights of whistleblowers?Whistleblowers are provided with various rights and protections by the law. An instance of one such law is the Sarbanes-Oxley Act which was passed after the disastrous early 2000s when companies like Enron and WorldCom engaged in very fraudulent activities.
The Sarbanes-Oxley Act ensures that whistleblowers are protected from retaliation by their companies which includes things like them being fired or them being blacklisted. The reason for this is simple, it is to encourage people to blow the whistle on fraudulent activities in their company, to keep industries intact.
These rights also extend to internal auditors and accountants. Khumalo is an internal auditor and so has every right to blow the whistle on his CEO without being fired. He can therefore sue the company.
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The three purposes for which individuals or groups can use products in order for it to be considered a business market are?
The three purposes for which individuals or groups can use products in order for it to be considered a business market are resale, use in daily operations, and direct use in producing other products.
When the seller knows or has a strong reason to expect that the products or services will be sold again, whether in their original form, in a modified form, as a part, component, or ingredient of another product, a sale is being made for resale.
The everyday operations that a company and its workers carry out with the aim of making a profit and raising the intrinsic worth of the company as a continuing concern are called daily operations.
Reselling, using things in regular operations, and directly producing other products are the three ways that people or groups might use products in order for them to be deemed a business market.
What is the Market?The entire number of buyers and sellers in the area or region under consideration is referred to as the market. Earth, as well as several nations, regions, states, and cities, maybe the subject. The worth, expense, and cost of the goods traded depend on the forces of supply and demand in the market.
The term "available market" refers to a market that includes all local residents. There is a "market minimum" inside the available market or the size of the market that will purchase items without any marketing effort. Without taking any action, a corporation could only receive sales like this one. This level is getting lower and lower in the modern world.
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Which of the following is a term used to describe service providers and organizations that put their customers first and spend time, effort, and money identifying and focusing on the needs of current and potential customers?
Customer Centric is a term used to describe service providers and organizations that put their customers first and spend time, effort, and money identifying and focusing on the needs of current and potential customers.
A customer-centric way of doing commercial enterprise is centered on offering superb client revel before and after the sale so as to drive repeat enterprise, decorate purchaser loyalty, and enhance business growth. However, a customer-centric corporation calls for greater than imparting appropriate customer support. Each Amazon and Zappos are high examples of manufacturers that are purchaser-centric and have spent years growing a way of life around the patron and their needs. Their commitment to turning in customer prices is proper. In fact, Zappos is satisfied with fireplace employees in the event that they no longer suit their purchaser-centric tradition.
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You're really good at investing and you have $1,500 in your investment account.
You make 8.5% interest a year on your investment account!
For a year you owe $1,600 on a credit card.
You pay 19% interest a year on this credit card debt
How much money are you making on your investment in a year?
$1627.5 is the total money are you making on your investment in a year out of which $1500 is the principal value and $127.5 is the interest amount.
What do you mean by interest?Interest is the cost you incur when borrowing money or when lending it out. The most typical approach to display interest is as an annual percentage of the loan balance. This proportion is referred to as the loan's interest rate.
Given,
Principle amount = $1500
Rate of Interest = 8.5% p.a
Time = 1 year (assume)
Required to find money-making investment in a year =?
Interest = P x R x T/100
Interest = 1500 x 1 x 8.5/100 = $127.5
Thus, the total amount we get is the principal amount plus the interest amount which is $1500 + $127.5 = $1627.5
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Receivables Investment
Snider Industries sells on terms of 2/10, net 25. Total sales for the year are $1,000,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 30 days after their purchases. Assume a 365-day year.
What is the days sales outstanding? Do not round intermediate calculations. Round your answer to the nearest whole number.
days
What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest dollar.
$
What would happen to average receivables if Snider toughened its collection policy with the result that all nondiscount customers paid on the 25th day? Do not round intermediate calculations. Round your answer to the nearest dollar.
$
Based on the percentage of customers that pay on a certain date and the day paid, the days sales outstanding is 24 days
The average amount of receivables is $65,753.42
If Snider toughened its policy so that nondiscount customers paid before the 25th, then the average receivables would decrease by $9,589.04.
How to find the days sales outstanding?The days sales outstanding can be found by the formula:
= (Percentage who pay by 10th day x Number of days) + (Percentage who pay by 30th day x Number of days)
= (30% x 10) + (70% x 30)
= 24 days
The average amount of receivables can be found by:
= 24 x 1,000,000 / 365
= $65,753.42
If the customers paid by the 25th day:
= (30% x 10) + (70% x 25)
= 20.5 days
Average amount of receivables:
= 20.5 x 1,000,000 / 365
= $56,164.38
The reduction would be:
= 65,753.42 - 56,164.38
= $9,589.04
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you have hired 10 new temporary workers who will be with the company for three months. you want to make sure that the user accounts cannot be used for login after that time period. what should you do?
あなたは、会社に 3 か月間勤務する 10 人の新しい臨時従業員を雇いました。その期間が過ぎると、そのユーザー アカウントをログインに使用できないようにする必要があります。あなたは何をするべきか？
Generally, we should Configure account expiration in the user accounts.
What is Account?An account displays the condensed records of transactions pertaining to the person or thing in question. As an illustration, each supplier and customer that the company deals with will be treated as a separate account. Both tangible and immaterial items may be tied to an account.
A current account keeps track of the movement of products and services into and out of a nation, including tangible commodities, service charges, tourism revenue, and money transmitted directly to other nations as official help or family-to-family transfers.
The increase or decline in a nation's ownership of foreign assets is tracked by a financial account. The capital account tracks capital transfers between citizens of the United States and citizens of other countries.
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Education and hospital are said to be service business how exaplain it?
An effective price ceiling in a competitive industry will mean that which of the following is true?
a Marginal cost is greater than marginal revenue.
b Marginal revenue is greater than marginal cost.
c Marginal cost is equal to marginal revenue.
d One cannot tell because the price ceiling prohibits the competitive firms from producing at a profit-maximizing rate of
output.
C) In a competitive market, an effective price ceiling will result in marginal cost and marginal revenue being equal.
What is the price cap?The imposed maximum price a seller is permitted to charge for a good or service is known as a price ceiling. Price ceilings are typically applied to necessities like food and energy products when they become unaffordable for regular consumers.
Price ceilings are typically established by law. In essence, a price cap is a form of price control. Price caps can be useful for making necessities affordable, if only temporarily. However, economists question the long-term value of such ceilings.
There are numerous instances of price caps imposed by the government, typically for goods that are regarded as necessary or essential. Here are a few typical instances of price ceilings.
Ceilings on rentFuel and food price ceilingsCost ceilings for prescription medications and lab tests.Learn more about the price ceiling with the help of the given link:
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the united states has prohibited the import of products from iran due to the political situation in that nation. this complete ban is an example of a(n)
Due to the political climate in Iran, the United States has banned the import of goods from that country. An embargo is something like this prohibition.
An embargo is a trade ban that is often implemented as an economic sanction by a govt, a group of nations, or an international body. Embargoes may prohibit entire trade or merely some types of it, such as importation of weapons.
The United States of America (USA) bases its judgments about the embargo and other comparable restrictions on the United Nations' authority (UN). It is a company that was established in 1945. The major goal of the UN is to foster greater political and economic cooperation.
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While on the phone with a customer they say, "What do you mean the only appointment you have is three weeks away? My service is out and I need it fixed immediately for work!"
What would you do?
This is about customer management. The best response to the above situation is to first empathize with the customer. Then calmly explain to them what other options they have to get their service fixed. If it is possible to recommend another provider, one should explore that option.
What are some customer management strategies one can deploy?A Customer Service Management strategy is a plan that combines procedures, activities, and technology to increase sales and enhance customer service. It often involves a company's sales, marketing, and customer service operations.
Here are steps to take when dealing with a dissatisfied customer:
Recognize their annoyance and repeat it back to them in your own terms. (Empathy)Connect with them, let them know you've heard about it, and realize how serious it is. If you are unable to remedy the issue in the first email, assure them that you will do so in the second.You can reply to an upset consumer in several ways, including:
I apologize for the inconveniencePlease elaborate onI understand your dissatisfaction.This is significant – for both you and me etc.Learn more about customer management:
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Refer to table 7-5. If the market price of an orange is $0.70, then the market quantity of oranges demanded per day is
On average, 7 oranges are required each day if an orange costs $0.70 on the open market.
Assume there are only three orange consumers—Alex, Barb, and Carlos—and that there are only three oranges that can be produced each day.
If an orange costs $0.70 on the open market, then 7 oranges are needed on average per day. The table shows how much each of the three possible orange buyers is willing to spend on the first 3 oranges of the day
If the price of one orange, P, satisfies the $0.75 < P < $0.80 market demand for exactly five oranges each day.
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The complete question is.
If the market price of an orange is $0.70, the market quantity of oranges demanded per day is
a. 5.
b. 6.
c. 7.
d. 9.
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identifies and analyzes all the activities involved in serving one unit of demand or, put differently, in providing one unit of supply.
Process analysis identifies and analyzes all the activities involved in serving one unit of demand or, put differently, in providing one unit of supply.
Process analysis is a continuous improvement process where businesses examine their operations to identify more effective ways to do a given task. The three components of any activity—input, process, and output—are the foundation of this analysis. Process analysis examines how inputs are changed into desired outputs.
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what makes this cellphone brand or model unique
A wireless phone that uses computer equipment to move a call from one region to another and a network of low-power radio transmitters, each of which covers a separate geographic area (cell). This technology enables widespread portable phone service.
Explain about the cellphone and its unique?
International Mobile Equipment Identity is referred to as IMEI. Each mobile phone has a distinct 15-digit serial number that serves as the device's identity.
Mobile phones are used for many things, including staying in touch with family, conducting business, and having access to a phone in case of an emergency. Some people carry multiple mobile phones, including ones for personal and professional use.
The term "cellular" was chosen to describe the design of a network or wireless towers because the coverage map resembled a collection of biological cells. Eventually, all phones that utilised a similar principle came to be known as "cellular phones" or "cell phones."
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A sales representative failed to call on a prominent customer because the representative was ill on
the day the call was scheduled.
This situation calls for a
Seleccione una:
O a. justification report
O b. progress report
O c. proposal
O d. production report
2. Assembly of a model airplane has a learning curve of 80 percent. The estimated time to assemble a second identical model airplane is 40 hours . Determine approximately how much time will be required for: a. the eight unit (4 points) b. the first ten units (4 points )
Using the learning curve formula, the times required are given as follows:
a) Eight unit: 10.49 hours.
b) First ten units: 194 hours.
What is the learning curve formula?The learning curve formula gives the time needed to model the nth unit of a product according to the following exponential equation:
[tex]T = a(b)^{n-1}[/tex]
In which the parameters are described as follows:
a is the time needed to model the first unit.b is the learning curve coefficient.In the context of this problem, the coefficient of the learning curve is given by:
b = 0.8.
The time it takes for the second model is of 40 hours, hence T(2) = 40, meaning that we can find the parameter a as follows:
[tex]40 = a(0.8)[/tex]
a = 40/0.8
a = 50.
Then the equation is:
[tex]a_n = 50(0.8)^{n - 1}[/tex]
The time it takes to assemble the eight unit, in hours, is given by:
[tex]a_8 = 50(0.8)^7 = 10.49[/tex]
For the first ten units, the time is given by the following integral:
[tex]T = \int_{1}^{10} 50(0.8)^{n - 1} dn[/tex]
Applying the exponential integral rule, we have that:
[tex]T = \frac{50}{\ln{0.8}}(0.8)^{n - 1}|_{n = 1}^{n = 10}[/tex]
Applying the Fundamental Theorem of Calculus to solve the definite integral, the time in hours needed to produce the first ten units is given by:
[tex]T = \frac{50}{\ln{0.8}}[(0.8)^9 - (0.8)^0][/tex]
T = 194 hours.
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The possibility that consumer spending may change before an anticipated change in income actually occurs reflects the importance of consumer
O irrationality.
O prophesy.
O expectations.
O imprudence.
The possibility that consumer spending may change before an anticipated change in income actually occurs reflects the importance of consumer D) expectations.
D)Consumer expectations play a vital role in shaping economic behavior and decision-making.
They are influenced by a variety of factors such as economic conditions, personal financial situations, and future prospects.
Consumer expectations refer to individuals' beliefs about the future state of the economy, including their own income levels and employment prospects.
These expectations can significantly impact consumer spending patterns and overall economic activity.
If consumers anticipate an increase in their income in the near future, they may choose to increase their spending even before the actual income change takes place.
This phenomenon is known as the "anticipatory effect" or "income effect" on consumption.
It suggests that consumers do not always wait for their income to change before adjusting their spending habits.
Instead, they act based on their expectations of future income changes.
For example, if consumers anticipate a pay raise or a promotion, they may start spending more in anticipation of the increased income, even if it has not materialized yet.
Consumer expectations can also work in the opposite direction. If consumers anticipate a future decline in income, such as a job loss or an economic downturn, they may reduce their spending in advance to prepare for the anticipated income decrease.
This behavior can have significant implications for economic stability and growth, as it can amplify the impact of economic shocks or changes in income on overall consumer spending and aggregate demand.
Therefore, understanding consumer expectations is crucial for policymakers, businesses, and economists.
It helps them gauge consumer sentiment, predict future spending patterns, and make informed decisions regarding fiscal and monetary policies.
Additionally, accurate assessments of consumer expectations can contribute to a more stable and resilient economy by allowing policymakers to respond effectively to changes in consumer behavior and manage economic fluctuations.
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Can anyone help me please
It is a false statement that Hazmat suits are used for the protection of people wearing suits.
It is a true statement that the associate should apply labels that are not directed by the system.
It is a true statement that the two type of lithium battery are Lithium Ion and Lithium Metal
It is a false statement that it is okay for a Hamzat suit to wrap around the edge of a box
What is the purpose of hazmat suit?A hazmat suit means a piece of equipment that form part of the personal protective equipment (PPE) kit. The suit includes a garment that is impermeable and its designed especially for the protection of the wearer from any kind of hazardous substances.
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-
How is your interpretation of Lane's character and conflicts shaped by all that the story withholds from us,
Internal conflict occurs when a character wrestles with his or her own thoughts, desires, or beliefs. External conflict, on the other hand, is a conflict with something or someone over whom the character has no control.
What is conflicts?Conflict exists defined as a work and a clash of claims, opinions, or even directions. Conflict will always exist in society, regardless of whether the source of the conflict is personal, racial, class, caste, political, or international. The story's opposing force, conflict, is classified into four categories: conflict with oneself, conflict with others, conflict with the environment, and conflict with the supernatural. An active disagreement between people who hold opposing views or principles: He and his father had a lot of disagreements. It was an unpopular policy that caused a number of internal party conflicts. His outspoken opinions frequently put him at odds with the president.To learn more about conflicts, refer to:
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if a company performs and completes all services in year 1, but does not receive cash for the services until year 2, in which year should the company record revenue?
Since the company has completed all services in year 1 and not received payment until year 2 it should record revenue in year 1 according to revenue recognition principle.
A generally accepted accounting standard (GAAP) called revenue recognition specifies the special conditions under which revenue is recognized as well as how to record for it. When a key event has occurred, a customer has obtained a product or service, and the cash amount is easily quantifiable for the company, revenue is typically recognized.
According to this principle of revenue recognition the revenue should be recorded by the company in the year in which it occurred not in the year when its payment has been made. Here, in this case since the company has earned the revenue in year 1 itself when it completed the service so it should record it there only even though the cash payment has not been done yet.
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if the demand for a product increases, then we would expect equilibrium price?
With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply. Reduced demand will result in a drop in the equilibrium price and a reduction in supply.
What is equilibrium price?At an equilibrium price, the forces of supply and demand are balanced. Prices tend to stabilize at this level unless specific supply or demand characteristics change. The equilibrium price will alter when supply, demand, or both move or change.
The cost to the customer of an item or service at the market-clearing price, also known as the equilibrium price, occurs when supply and demand are equal or nearly equal.
The intersection of the supply and demand curves on a single diagram represents the point of equilibrium. This is as a result of the intersection's equal distribution of supply and demand.
Thus, With everything else remaining the same, an increase in demand will result in a rise.
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Please help it’s due tonight I will give a brainlist
Answer: You need to subtract and divide
Explanation:
So your normal price is $62. You sale price is $51.99. Subtract 51.99 from 62 to get the markup in dollars. To get the percent, divide 51.99 by 62. You should get something close to 83%, which means 51.99 is around 83% of the total. Subtract that from 100% to get the markup %.
Which of the following is not a required criterion for a transaction to be considered a business
combination?
Presence of a substantive process
Presence of inputs
Less than 90% of the value acquired is in a single asset of group of similar assets
Presence of outputs
The fair value of the transaction's gross assets must not be concentrated (i.e. 90%) in a single asset or group of similar assets. It is not necessary to have outputs to determine whether a transaction is a business combination.
so,
Less than 90% of the value acquired is in a single asset of group of similar assets.
What is consideration in business combination?The fair value of the transaction's gross assets must not be concentrated (i.e. 90%) in a single asset or group of similar assets. It is not necessary to have outputs to determine whether a transaction is a business combination.In a business combination, the consideration transferred is the sum of the fair values of assets transferred, liabilities incurred, and equity issued by the acquirer (in this lesson, we'll call it Nile) to the shareholders of the acquiree (we'll call it Orange).All assets acquired and liabilities assumed in a business combination are valued at fair value on the acquisition date.To learn more about : business combination
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The city government of Pleasantville promised significant tax breaks to a large retailer if it opened a store in Pleasantville, which would result in nearly 200 new local jobs. However, the retailer decided that it would staff the new Pleasantville store with employees from its other stores, meaning no new jobs were created. As a result, the city of Pleasantville instituted clawbacks by
As a result, the city of Pleasantville instituted clawbacks by rescinding the tax breaks.
When the government gives you a tax break, it approaches you're getting a reduction to your taxes. A tax spoil can be available in a selection of forms, consisting of claiming deductions or excluding profits from your tax return.
Here are the five biggest tax credits you just might qualify for that could have a prime effect on your income and tax situation.
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8. A 10-year annuity paying $x at the beginning of every year (i.e. the first of ten payments is made
today) is worth the same (today) as an annuity of $200 payable every 6 months for 10 years (20
payments), the first payment of which is due 66 months from now.
If the annual interest rate (compounded annually) is 4%, find x.
The majority of us have experienced either making or receiving a series of fixed payments over time, such as car or rent payments or interest on bonds or certificates of deposit (CD).
Technically speaking, these continual or periodic payments are known as "annuities" (not to be confused with the financial product called an annuity, though the two are related).
There are various methods for calculating the price of making such payments or their final value. The following information can help you determine an annuity's present value (PV) or future value (FV).
Two Different Annuity Types
Ordinary annuities and annuities due are the two main categories of annuities in this context.
An ordinary annuity makes (or is required to make) payments at the conclusion of each period. Bonds, for instance, typically pay interest once every six months.Paying annuities: In contrast, payments for an annuity are made at the start of each period. One typical example is rent, which landlords often demand at the start of each month.To learn more about Annuity from the given link.
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Define at least three target audiences for thee Covid-19 communication campaign.
There have been many communication campaign for Covid-19. And one of them is related to vaccine. The three target audience for that communication campaign is scientists working on vaccines, as well as producers, donors, and product creators.
What is meant by target audience?A target audience is the group of people who are intended to see a magazine, an advertisement, or any message that is expressly targeted to that group.
To combat Covid-19, there have been numerous communication campaigns, including those for frontline employees and medical warriors, among others.For vaccine developers, there has also been a communication effort. In order to save lives and save people from getting gravely ill, WHO is determined to keep the momentum for expanding access to COVID-19 vaccinations and will continue to support countries in expediting vaccine delivery.In the instance of COVID-19, the COVID-19 Global research and innovation forum: towards a research roadmap was followed by the development of the goal product profile.The intended market for the vaccine comprises researchers, manufacturers, and funding organisations.To learn more about target audience, refer to:
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Explain whether each of the following events increases,
decreases, or has no effect on the unemployment rate
and the labor-force participation rate.
a. After a long search, Jon finds a job.
b. Tyrion, a full-time college student, graduates and
is immediately employed.
c. After an unsuccessful job search, Arya gives up
looking and retires.
d. Daenerys quits her job to become a stay-at-home
mom.
e. Sansa has a birthday, becomes an adult, but has no
interest in working.
f. Jaime has a birthday, becomes an adult, and starts
looking for a job.
g. Cersei dies while enjoying retirement.
h. Jorah dies working long hours at the office
After a long search, Jon finds a job and this will result in a decrease in the unemployment rate, and an increase in the labor-force participation rate.
What is the unemployment rate?The unemployment rate is described as the workforce percentage that is actively looking for work, looking for employment and is currently unemployed. It is important to mention that the unemployed people are the ones that do not have any job currently.
After a long search, Jon has been able to find a job. This highlights that Jon was unemployed before, but now he has been able to get a job, and he is now an employed person. It can also be highlighted that Jon is employed, which increases the labor force participation rate. This means that with Jon, the number of labor forces contributing to the economy has increased.
It can be concluded that after a long search, Jon finds a job and this will result in a decrease in the unemployment rate, and an increase in the labor-force participation rate.
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Explain whether the following event increases,
decreases, or has no effect on the unemployment rate
and the labor-force participation rate.
a. After a long search, Jon finds a job.
What are the four primary functions of management?
Causwell Company began 2021 with 13,000 units of inventory on hand. The cost of each unit was $6.00. During 2021 an additional 30,000 units were purchased at a single unit cost, and 23,000 units remained on hand at the end of 2021 (20,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021, applying the average cost method, is $150,000. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used.
1. Determine the cost of goods sold for 2021 using the FIFO method. [Hint: Determine the cost per unit of 2021 purchases.] (Do not round intermediate calculations.)
The cost of Goods Sold - FIFO is 120000 and the cost of Goods Sold - LIFO is 120000.
How is the cost of goods sold for 2021 using the FIFO method calculated?Per Unit Average Cost:
= Cost of Goods Sold with Average Cost ÷ Total Units Sold
= 150,000 ÷ 20,000
=7.5
Cost of Goods Available for Sales:
= (Total of Inventory + Purchased Units) × Per Unit Average Cost
= 43,000 × 6.00
= 258000
Cost of Units Purchased in 2021:
= Cost of Goods Available for Sale - Opening Inventory × Unit Cost
=258000 - 13,000 ×6
=180000
Per Units Cost of Units Purchased in 2021:
= Cost of Units Purchased in 2021 ÷ Total Units Purchased
= 180000 ÷ 30,000
= 6
Part 1:
Cost of Goods Sold - FIFO
Cost of Goods Sold:
= (Opening Inventory × Unit Cost) + (30,000 - 23,000) × Per Units Cost of Units Purchased in 2021
= 13,000 × 6 + 7,000 × 6
= 120000
Part 2:
Cost of Goods Sold - LIFO
Cost of Goods Sold:
= units sold in 2021 × Per Units Cost of Units Purchased in 2021
= 20,000 × 6.00
= 120000
To learn more about FIFO method, refer
https://brainly.com/question/13827586
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