Benson Company had beginning inventory of 150 units that cost $200 each. During the year, Benson made two inventory purchases: Purchase 1 for 500 units that cost $210 each and Purchase 2 for 350 units that cost $220 each. During the year, Benson sold 700 units. If Benson uses FIFO, the reported ending inventory equals a. $61,500 Reason: Beginning inventory (150 units * $200 each) + Purchase 1(500 units $210 each) + Purchase 2 (50 units * $220) = $146,000 Cost of goods sold; $212,000 cost of goods available for sale - $146,000 cost of goods sold = $ 66,000
b. $63,600 Reason: Beginning inventory (150 units * $200 each) + Purchase 1(500 units * $210 each) + Purchase 2 (50 units * $220) = $146,000 Cost of goods sold; $212,000 cost of goods available for sale - $146,000 cost of goods sold = $66,000
c. $66,000 Reason: Beginning inventory (150 units * $200 each) + Purchase 1 (500 units $210 each) + Purchase 2 (50 units * $220) = $146,000 Cost of goods sold; $212,000 cost of goods available for sale - $146,000 cost of goods sold = $66,000
d. $212,000 Reason: Beginning inventory (150 units * $200 each) + Purchase 1 (500 units * $210 each) + Purchase 2 (50 units * $220) = $146,000 Cost of goods sold; $212,000 cost of goods available for sale - $146,000 cost of goods sold = $66,000

In business,what would be the input, conversion and output of operating a summer band camp

Onsider the following subscription behavior information from genie, a web site that provides tools for constructing a family tree (ancestor search). subscriptions cost $9.99 per month, but you are charged for the entire year at the time of purchase. there is a one-year minimum term when you sign up for the service. once purchased, subscriptions are set to renew automatically unless the subscriber cancels them. when a membership renews, it renews for a one-year term and again you are charged for the entire year. there are no variable costs associated with providing this service to an individual customer, but genie does engage in customer relationship activities that they believe will increase customer retention. these customer relationship activities cost genie about $10 per year per customer. based on a sample of 1000 customers that joined genie five years ago, near the time when the company was founded, they were able to determine how many of those customers remained subscribers in the second year, third year etc. based on this information, genie calculated the average annual retention rate to be 20%. genie uses an annual discount rate of 8%. a. last year, genie spent $10,000 placing advertisements on google. genie management believes that these advertisements were responsible for about 300 new subscribers. would you recommend to genie management that they purchase more google ads? b. suppose a newly-introduced loyalty program increases the number of customers that remained to 30%. does this new data change your answer to 9.a? c. do you have any hesitations or concerns about making recommendations to management based on your above estimate of customer lifetime value?

The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.