If the most someone is willing to pay for ticket to see their favorite team is $100 and the market price of the ticket is $35, then this buyer will get consumer surplus of $65.
Consumer Surplus = Maximum Price Willing - Actual Price
Methods for Determining Consumer Surplus
Consumer surplus is a term used in economics to describe the difference between what consumers are willing to pay for a commodity or service and its market price, or the benefit (or surplus). The marginal utility theory of economics serves as the foundation for the consumer surplus formula. According to the hypothesis, spending patterns vary depending on an individual's preferences. A surplus is produced when people's willingness to pay for a particular commodity or service varies. Several different corporate finance occupations use this metric.
The equilibrium price is the point at which supply and demand coincide. Product surplus (PS) is the region above the supply level and below the equilibrium price, and consumer surplus is the region below the demand level and above the equilibrium price (CS).
Complete revenues minus total costs equals profit. In contrast, producer surplus is the difference between the proceeds from the sale of one good and its marginal, direct cost of production.
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For your project, you will be doing a Competitor Marketing Analysis Report on the:
Question 3 options:
All companies in the chosen industry
A company you created
An existing company known as the Chief Industry Competitor
Any company
The following data values represent the daily amount spent by a family during a summer vacation. find the sample standard deviation of this dataset: $96, $125, $80, $110, $75, $100, $121
The sample standard deviation of this dataset is =19.1.
The Standard deviation is a degree of the amount of variant or dispersion of a set of values. A low widespread deviation indicates that the values tend to be near the mean of the set, at the same time as a high widespread deviation indicates that the values are spread out over a much wider variety.
x x- \bar x=x-101 (x-ˉx)2
96 -5 25
125 24 576
80 -21 441
110 9 81
75 -26 676
100 -1 1
121 20 400
∑x=707 ∑(x-\bar x)=0 ∑(x-\bar x)2=2200
Mean \bar x =∑x/n
=96+125+80+110+75+100+121/7
=707/7
=101
Sample standard deviation S=√∑(x-\bar x)2/n-1
=√2200/6
=√366.6667
=19.1
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Assume that you had a bad year in the stock market with capital gains of $10,000 and capital losses of $25,000. how much can you write off on this year?
The amount that can be written off in this year by setting off capital loss(25,000) we incurred, with the capital gain(10,000) is 13,000
Long term capital gains(LTCG) can be set off against Long term capital losses (LTCL)only
Capital gain/loss on Stock market is long term capital gain/loss
LTCG = 10,000
LTCL = 25,000
SET OFF = 25,000 - 10,000 = 15,000- 2,000 = 13,000
So, we can write off 13,000 for the year.
The Income Tax only permits a loss to be offset under the head of "Capital Gains"; it does not permit a loss under the head of "Capital Gains" to be offset against any income from other heads.
Only long-term capital gains may be offset by long-term capital losses.
Both long-term benefits and short-term gains may be offset by short-term capital losses.
If you sold shares or equity mutual fund units after 31.3.2018 and incurred a long-term capital loss, you can offset that loss against any LTCG. As long-term share profits or gains from equity funds are now taxable when they exceed 1 lakh,
Additionally, you have up to 8 assessment years to carry these losses forward for setting off in future years. Before 31.03.2018, there was no tax on long-term gains on stocks and equities funds; as a result, these profits were viewed as a dead loss. As a result, the same was prohibited from beginning or continuing.
When held for longer than a year, shares and equity funds are considered long-term capital assets.
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Hospital equipment that originally cost $150,000 was sold for $60,000. the net book value of the equipment at the date of sale was $70,000. the hospital should report:_________
Hospital equipment that originally cost $150,000 was sold for $60,000. the net book value of the equipment at the date of sale was $70,000. The hospital should report a nonoperating loss of $15,000.
Equipment maximum usually refers to a fixed of gear or other objects normally used to attain a selected objective. exceptional jobs require specific forms of device.
Device is a tangible long-term asset that blessings a commercial enterprise over numerous years of use. computers, vehicles and manufacturing machinery are all examples of equipment. they're tangible due to the fact they have got a physical form—not like intangible assets (such as patents, emblems or copyrights) that do not.
A tool may be any item that is used to reap a intention. equipment commonly denotes a set of gear which might be used to achieve a particular objective.
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What do financial planning skills ultimately enable an individual to do?
to prepare for the future
to process their own tax returns
to stop spending
to become wealthier without saving money
Financial planning skills ultimately enable an individual to prepare for the future.
What is meant by Financial planning skill?This is the term that is sued to describe the ability of people to be able to determine the financing that is the most appropriate for them and the ways that they have to be able to carry out investment activities also as to get the most viable profits. This is a very important skill because it helps in savings and also helps in the acquisition of assets.
Hence we can say that financial planning skills ultimately enable an individual to prepare for the future.
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Reno revolvers has an eps of $1.50, a free cash flow per share of $3.00, and a price/free cash flow ratio of 8.0. what is its p/e ratio?
The P/E ratio of Reno Revolvers is 16 times.
Given,
Reno Revolvers has an EPS of $1.50
Free cash flow per share = $3.00
Price/free cash flow ratio = 8.0
P/E ratio = ?
The formula which is used to calculate the Price / Earning ratio (P/E ratio) is given below:
Price / Earnings ratio (P/E ratio) = (Market price per share) ÷ (Earning per share)
Here,
Earning per share = $1.50
The market price per share is
= Cash flow per share × price / cash flow ratio
= $3 × 8
= $24
Now placing this value into the formula above
Thus, the price earning ratio is
= $24 ÷ $1.50
= 16 times
Hence, the P/E ratio of Reno Revolvers is 16 times.
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At a volume level of 600,000 units, sullivan reported the following information: sales price $ 70 variable cost per unit 20 fixed cost per unit 5 the company's contribution-margin ratio is closest to:_____.
The company's contribution-margin ratio is closest to:71.43%
What is the contribution-margin ratio?
The contribution margin ratio means the contribution per unit(sales price minus variable cost per unit) as a percentage of the selling price, in other words, the portion of the selling price that each unit sold contributes to the recovery of the firm's total fixed costs
contribution-margin ratio=contribution margin/sales price
contribution margin=sales price-variable cost
sales price=$70
variable cost=$20
contribution margin=$70-$20
contribution margin=$50
contribution-margin ratio=$50/$70
contribution-margin ratio=71.43%
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Why is it that enterprises will need to adapt in regard to human capital trends?
With changing business space, enterprises need to adapt to both changing and emerging ideas as well as human capital trends.
The pandemic presented fresh difficulties in terms of economic prospects and the shifting nature of the labor market. Work from home, remote working, odd even staffing, etc. were popular in order to handle the epidemic and keep the engines of the economy operating, especially to keep up with the new problems. Further challenging the diversity that the firms are venturing into are new upskilling fields like artificial intelligence, cyberspace, hacking, etc.
As a result, a redesign of our strategy for managing human capital is in the works and has to be considered. It is important to consider how businesses might adapt to newer and developing trends in human capital if they want to have a sustainable and forward-thinking future.
Hence, Businesses must adapt to developing and evolving concepts as well as trends in human capital as the business environment changes.
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Assuming a production of 10,500 units, what is the budgeted materials purchase (in lbs.& $)?
Assuming a production of 10,500 units, The budgeted materials purchase (in lbs.& $) is $630,000.
10,500 (3lbs)
= 31,500 lbs31,500lbs($20)
= $630,000.
Materials Budgeting:
Material budgeting is the process of developing a material or purchase budget in terms of the amount and monetary value of materials to be purchased over a specific time period. It not only aids in estimating material prices over time, but it also analyses material requirements. Material budgeting ensures reduced inventory risk, maximum buy lead time, low transportation costs, and improved vendor relations.
The purchase is calculated as follows: Purchase in units = Usage + Desired ending material inventory units Beginning inventory units Typically, the direct material budget is supplemented by a calculation of estimated cash payments for materials.
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What is considered to be adaptive about the five stages of loss presented by kubler-ross' model?
The Kubler-Roth grief period acts as an individual's cognitive defense mechanism to give the individual additional time to process the grief. It is commonly understood and accepted that stages act as a defense mechanism. The rest of the options are talking about reducing some kind of grief.
Elisabeth kübler-Ross. A Swiss American psychiatrist and pioneer of research on dying humans, okübler-Ross wrote "On loss of life and death," the 1969 ebook in which she proposed the patient-focused, demise-adjustment pattern, the "5 ranges of Grief." the ones degrees are denial, anger, bargaining, despair, and reputation.
The 5 tiers of Grief is a principle developed by psychiatrist Elisabeth kübler-Ross It shows that we undergo 5 awesome levels after the loss of a loved one. those tiers are denial, anger, bargaining, despair, and eventually acceptance.
Kubler-Ross and associates developed a 5 stage version of loss of life and death. these tiers have one-of-a-kind emotional responses that humans go through in response to the understanding of demise. they are generally referred to by using an acronym of DABDA and are denial, anger, bargaining, depression, and acceptance.
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the concept of comparative advantage is based upon: a relative energy prices. b dollar prices of labor. c relative opportunity costs. d absolute labor productivity. e relative labor costs.
the concept of comparative advantage is based upon absolute labor productivity.
What is Labor Productivity?
Labor productivity measures the hourly output of a country's economy. Specifically, it indicates the amount of real Gross Domestic Product (GDP) produced in one hour of labor. Labor productivity growth depends on three main factors: savings and investments in physical capital, new technologies and human capital.
Understanding Labor Productivity
Labor productivity, also called workforce productivity, is defined as real economic output per hour worked. Labor productivity growth is measured by the change in economic output per hour worked over a defined period. Labor productivity should not be confused with employee productivity, which is a measure of individual worker performance.
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Macro-economic factors that influence consumer spending, including rates of inflation and economic growth, are part of the ______ environment.
Macro-economic factors that influence consumer spending, including rates of inflation and economic growth, are part of the economic environment.
What is economic environment?Economic environment can be described as the external economic factors which can have influence on the buying habits of consumers as well as the businesses.
It should be noted that this can affect the performance of a company. and could be beyond a company's control, hence Macro-economic factors that influence consumer spending, including rates of inflation and economic growth, are part of the economic environment.
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on december 31, 2019, akron, inc., purchased 5 percent of zip company's common shares on the open market in exchange for $15,950. on december 31, 2020, akron, inc., acquires an additional 25 percent of zip company's outstanding common stock for $97,500. during the next two years, the following information is available for zip company: what amount of income from its investment in zip should akron report for 2021?
Equity income $26,580, Inv Zip $133,890, Reported inc $36,990, Inv Zip $144,300 these amount of income from its investment in zip should akron report for 2021
What is equity?Equity, also known as shareholders' equity or owners' equity for privately held businesses, is the sum of money that, in the event of a company's liquidation, would be distributed to its shareholders after all of the company's assets have been sold and its debt has been fully repaid. It is the worth of company sales less any obligations owing by the company that was not transferred with the sale in the case of an acquisition.
A company's book value can also be represented by shareholder equity. Equity may occasionally be provided as payment-in-kind. Additionally, it shows how many shares of a corporation each person owns. A company's equity may be seen on its balance sheet, and it is one of the most often used pieces of information by analysts to evaluate a company's financial standing.
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a shortage is defined as the situation that exists when the quantity of a good supplied is greater than the quantity demanded.
A shortage is defined as the situation that exists when the quantity of a good supplied is greater than the quantity demanded. true
A shortage or excess demand is a state of affairs in which the demand for a product or service exceeds its supply in a marketplace. it's far the other of an excess deliver.
shortages consist of meals, water, energy, and hard work. demand or delivery adjustments can arise for diverse reasons; no longer all are associated with a price exchange. scarcity and absence are two one-of-a-kinds, and positive financial shortage characteristics cause them to stand apart.
A shortage occurs whilst for a few purposes such as authorities intervention, or decisions by using dealers now not to raise charges the price does now not rise to reach equilibrium. in this condition, customers need to buy more on the market rate than the amount of the coolest or provider that is to be had, and a few non-rate mechanisms.
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Which type of variance causes operating income to be greater than the budgeted operating income?
Favorable variance is the variance causes operating income to be greater than the budgeted operating income.
A favorable variance is wherein real income is greater than budget, or real expenditure is less than budget. That is similar to a surplus in which expenditure is much less than the available earnings.
Is Favorable variance usually accurate?
Favorable variances are defined as either generating greater revenue than expected or incurring fewer fees than expected. Damaging variances are the other. Much less revenue is generated or greater prices incurred. Either may be correct or terrible, as these variances are based on a budgeted amount.
How do you inform if a variance is favorable variance or destructive?
If sales have been better than expected, or expenses were decrease, the variance is favorable variance. If sales have been decrease than budgeted or costs were better, the variance is detrimental.
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the purchase of new capital goods by a business would fall under which component of gdp? investment investment consumption consumption government
The purchase of new capital goods by a business would fall under Investment component of GDP. Gross domestic product (GDP) is a standard measure of the value added created by a country's production of goods and services over a given time period.
As such, it also accounts for the money generated by such output, as well as the overall amount spent on final goods and services. GDP can be determined by adding up all of the money spent in a given period by consumers, corporations, and the government. It can also be estimated simply totaling up all of the money received by all of the economy's participants.
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emily wants to initiate a suit against fast credit company by filing a complaint. the complaint should include
The complaint should include a statement of the grounds for the court to exercise jurisdiction.
What are the steps to initiate a suit against fast credit company?
The procedures for starting a lawsuit to make things clearer:
The defendant receives a summons when the plaintiff files a complaint with the court.In response to the complaint, the defendant may file a counterclaim against the plaintiff.Through interrogatories and depositions, testimony is discovered.After hearing the case, a judge or jury renders a decision.If the decision is not acceptable to either side, an appeal may be made to a higher court.When someone feels they have been harmed and decides to file a lawsuit, the first step is to file a complaint, which is a written statement that includes allegations of damages one received because of another person.
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An index of the average prices of all goods and services throughout the economy is called:_________
An index of the average prices of all goods and services throughout the economy is called the consumer price index.
What is consumer price index?Inflation is detected using the consumer price index. It is used to calculate the typical price difference for household goods between two specified time periods. Evaluation of general product pricing trends is done while maintaining quality.
One of the most used indicators for gauging inflation and deflation is the CPI. An important gauge of a nation's economic health is inflation.
Thus, it is consumer price index.
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allocated common costs are blank . multiple choice question. only relevant to decisions if they are avoidable never relevant to decisions only relevant to decisions if they are unavoidable always relevant to decisions
Allocated common costs are only relevant to decisions if they are avoidable. Thus, option (a) is correct.
What is costs?
The term "cost" refers to the actual amount of money spent on the manufacturing of the product. The products are manufactured to spend money on raw materials, transportation, wages, salaries, and other expenses.
The common costs refer to the allocated the joint products, process, and activities, to determine the cost of the product. The avoidable to the relevant cost. The relevant costs are affected by the managerial decision.
Therefore, option (a) is correct.
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You are interviewing someone about a new concept in debit cards. the interviewee immediately tells you that he hates debit cards and never uses them. what would be your appropriate next step?
The correct option according to me is (C) Explore why he hates debit cards
Answering utilizing a design thinking strategy would be the best course of action.
What does the design thinking methodology entail?The way you create goods, services, processes, and organizations will change as a result of using design thinking, a human-centered approach to innovation that is based on understanding customer demands, quick prototyping, and coming up with innovative ideas.
By applying design thinking, you may avoid relying solely on past data or placing dangerous bets without sufficient evidence by making judgments based on what clients actually want.
Design thinking combines what is practical from a technology and financial standpoint with what is desired from a human one.
Desirability: What is appealing to and appropriate for people.Technical Possibility: What is feasible in the near future?Viability: What elements are most likely to be included in a sustainable company model?To know more about design thinking visit:
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The complete question is:
You are interviewing someone about a new concept in debit cards. The interviewee immediately tells you that he hates debit cards and never uses them. What would be the appropriate next step?
A. Terminate the interview as this person will not give you knowledgeable information.
B. Ask him about the new debit card concept anyway.
C. Explore why he hates debit cards.
D. Ask about a similar product, but not the debit card.
assume that you are the owner of a large soybean farm in argentina. soybeans are a commodity product. most soybeans are grown in south america, but demand for soybeans is growing rapidly in asia. you are trying to decide whether to process soybeans in south america and ship them to asia or to ship raw soybeans directly to asia and process them there. what factors would you look at to make this decision?
In both the cases of processing soybeans in south america and shipping them to Asia or to ship raw soybeans directly to asia and process them there involves a factor of transcription and risk in it.
More about transportation risk:
Risks are a constant in transportation or shipping related activities at every level, from loading through delivery. a recurring factor that can be managed, nevertheless, by being aware of the risks and employing the appropriate techniques and tactics.
These risks may have an effect on the reliability and safety of the fleet, workplace safety, and delivery compliance. Some of the most significant ones are as follows: Extreme temperatures, weather-related catastrophes, natural disasters, and weather's general unkindness also include road traffic, sea conditions, and social dangers.
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Enlightenment thinker adam smith wrote about laissez-faire economics and market systems, which was influential in how people economically viewed the role of the government. According to smith, what role should the government have?.
In his writings, he described how market systems work and his belief in laissez-faire economics. His ideas influenced how people view the government in terms of the economy,
Economics is the study of scarcity and its impact on resource use, the creation of goods and services, the expansion of production and wealth over time, and a range of complex concerns of utmost importance to society. Political science, geography, mathematics, sociology, psychology, engineering, law, medicine, and business administration are just a few of the many areas in which economics has an impact. A society is a group of people who are in regular contact with each other or a large group of people living together in a common space, often subject to the same political authority and prevailing cultural norms. .
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what approach can parties use to generate alternative solutions by redefining the problem or problem set?
The approach that a parties can use to generate alternative solutions by redefining the problem or problem set is non specific compensation.
What is non specific compensation?Nonspecific compensation, can be described as an approach which explains that one party gets what it wants as a result of repaying the other party with something unrelated with respect to the original source of conflict.
In this case , the parties can use to generate alternative solutions by redefining the problem or problem set and that is what is been regarded as the non specific compensation.
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which gate ensures that all stakeholders have a shared understanding of the proposed system and what it will do? multiple choice gate two gate one gate three gate four
Gate one ensures that all stakeholders have a shared understanding of the proposed system.
What is a gate?
The gate is a system that includes the steps in which the product is passed the fulfill the criteria of the product for getting additional investment.
In this question, we have to determine which gate shows that all the stakeholders have a shared understanding. Gate one in the proposed system is a gate that ensures that all the stakeholders have a shared understanding. This gate also ensures that everyone should know about what the product will do.
Hence, gate one is the correct option.
The multiple-choice gate is not correct because it does not ensure shared understanding.
Two gates are not correct because it does not ensure shared understanding.
Three gates are not correct because it does not ensure shared understanding.
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which two project team success factors have shown the strongest correlation to successful project performance as perceived by senior managers?
The two project team success factors that have shown the strongest correlation to successful project performance as perceived by senior managers are
Stimulating work environment opportunity for team and individual recognitionWhat is Project performance management?Project performance management can be described as the process of creating as well as implementing, and managing projects which have an effect on the performance of an organization.
It should be noted that this focus on task execution as well as project performance management ..
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Accords reached by governments in which countries voluntarily limit the volume or value of goods they export to or import from one another are known as?
Accords reached by governments in which countries voluntarily limit the volume or value of goods they export to or import from one another are known as export restraint agreements.
What is export and import ?Since payments to sellers who are located outside are a part of import transactions, there is a corresponding outflow of funds from the nation. Exports are products and services that are made domestically and then offered to clients in other nations.
The export of rice from China for sale in several nations is an illustration of export. to transfer (data) between programs.
From an American point of view, chocolate produced by a Belgian company and sold there would be considered an import.
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If the quantity of housing supplied in a community is greater than the quantity of houses demanded, the existing price?
If a quantity of housing supplied in a community is greater than the quantity of houses demanded, the existing price is above the market equilibrium price.
Equilibrium exists whenever the quantity of the good demanded is just equal to the quantity of the good supplied. If the price of the good is above the equilibrium price, this means that the quantity of the good supplied exceeds the quantity of the good is demanded. There is are surplus of the good in the market. The existence of this surplus gives sellers an incentive to lower their prices and thus lowering the price downward toward its equilibrium level.
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If someone emigrated to the united states from venezuela, a spanish speaking country in south america, how might they think of themselves? choose all of the possible correct answers.
There is just one American hemisphere where Latin America, Central America, and Mexico are located, not the modern division between "North America" and "South America" that some people started to make as two separate continents.
As much and as little as they experience it in comparison to other Spanish-speaking South American nations. Chileans and Argentinians typically don't perceive any kind of explanation why they ought to feel more connection to Colombians than it is to Mexicans, Nicaraguans, or Cubans, despite the fact that individuals in Latin America tend to focus on domestic concerns of their own countries.
And undoubtedly, they feel a greater sense of kinship with each of them than with Brazilians. Important: The original understanding of the continents is still held by many in the Spanish-speaking globe.
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suppose your income is $2,000.00 this year and $1,060.00 next year. all you care about is consumption this year and next year. you can borrow or lend at an interest rate of 6.00%. the consumption good costs $1.00 per unit this year, and there is no inflation.
If the interest rate was 9.00% instead, you would undoubtedly not be in a better or worse financial situation, assuming your income is $2,000 this year and $1,060.00 next year. You only consider consumption for this year and the following year. 6.00% interest is charged on any loans or borrowing. This year, there is no inflation and the consumer good costs $1 per unit.
The amount a lender costs a borrower in terms of interest rate is expressed as a percentage of the principal, or the lent amount. The annual percentage rate, which is how loans' interest rates are commonly expressed consumption, is calculated annually.
A savings account or certificate of deposit earnings at a bank or credit union may also be subject to an interest rate. Interest on these deposit accounts is measured as an annual percentage yield.
The borrower is essentially charged interest for the usage of the asset. Cash, consumer goods, vehicles, and real estate are all examples of consumption lent assets. A higher interest rate makes borrowing the same amount of money more expensive. For this reason, an interest rate can be viewed as the "cost of money."
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A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's?
A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's cost of goods purchased.
Explanation:
While a merchandising company buys goods from its supplier's goods purchased and adds this to its opening inventory to determine the number of goods it has available for sale goods available for sale, a manufacturing firm makes the goods to be sold goods manufactured and adds to its opening inventory of finished goods to determine the same metric quantity of goods available for sale.
This relationship can be seen when the trading account of both firms is compared.
The cost of goods purchased is the net cost of merchandise acquired. The calculation is to add freight into the initial purchase cost and then subtract purchase allowances, purchase discounts, and purchase returns.
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