4. Solve the problem. Bed \'n\' Board Linen took inventory on the first of each

Question

4. Solve the problem.

Bed 'n' Board Linen took inventory on the first of each month for the full year. The sum of the inventories was $674,769. On December 31, inventory was taken again and amounted to $53,418. Find the average inventory for the year.

$47,796.23

$56,014.38

$51,779.25

$60,682.25

5. Find the net cost. Round to the nearest cent.

$765 less 10/20

$550.80

$535.50

$735.00

$382.50

6. Solve the problem. Round rates to the nearest whole percent and dollar amounts to the nearest cent.

The Oak Gallery had a clearance sale during which it sold an oak coffee table for $250. If the cost was $154 and the operating expenses were 25% of cost, find the amount of profit or loss.

$24.00 loss

$57.50 profit

$24.00 profit

$57.50 loss

$47,796.23

$56,014.38

$51,779.25

$60,682.25

5. Find the net cost. Round to the nearest cent.

$765 less 10/20

$550.80

$535.50

$735.00

$382.50

Explanation / Answer

1.note that inventory is calculated on the first of each month except for december

In december we counted on 31st

So total inventory = 674,769 (total)- (53418) = 621351

Average for 1 year = total inventory/ 12 months = 621351/12 =51,779.25

So option C is correct

------------------------------------------------------------------------------------

4.selling price of an oak table = 250

cost price = 154

operating expenses = 25 % of 154 = 38.5

profit = 250 -(154 +38.5) = (Selling price - all cost)

=>57.50 profit .

Please let me know if you have any problem , and don;t forget to rate my answer

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.