Business, 28.07.2021 19:20 Dpj21

Fermento sells a wine it purchases from a local brewer. Fermento stocked up on the wine throughout the year, preparing for a special millenium sales event in late December. On January 1,Fermento had 85.0 bottles on hand that cost $8.00 each. They also made the following purchases: 15 bottles for $9 each on Mar. 28
20 bottles for $11 each on Sep. 14
80 bottles for $12 each on Nov. 5

Fermento’s sales were as follows:
10 from the beginning inventory
30 from the Mar. 28 purchase
17 from the Sep. 14 purchase
13 from the Nov. 5 purchase
All of the wine was sold for $84 per bottle.

Required:
a. What was Fermento’s cost of goods available for sale for the year?
b. What was Fermento’s cost of ending inventory for the wine at December 31?
c. What was Fermento’s gross margin on the wine for the year?

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 21:40

Bella is the new president of first edition, a group dedicated to the promotion of english literacy in first-generation immigrant communities. in the two years that have passed since bella took the position, the organization's members have become more passionate about their mission and intensified their activities—they put in long hours teaching children to read, promoting the program to parents, and soliciting donations. bella's strength is in her ability to inspire others and make them believe that they are part of something greater than themselves. which term best captures bella's leadership style? a. transactional b. transformational c. legitimate authority d. absolute authority

Answers: 1

Answer

Business, 22.06.2019 17:40

Take it all away has a cost of equity of 11.11 percent, a pretax cost of debt of 5.36 percent, and a tax rate of 40 percent. the company's capital structure consists of 67 percent debt on a book value basis, but debt is 33 percent of the company's value on a market value basis. what is the company's wacc

Answers: 2

Answer

Business, 22.06.2019 18:00

Carlton industries is considering a new project that they plan to price at $74.00 per unit. the variable costs are estimated at $39.22 per unit and total fixed costs are estimated at $12,085. the initial investment required is $8,000 and the project has an estimated life of 4 years. the firm requires a return of 8 percent. ignore the effect of taxes. what is the degree of operating leverage at the financial break-even level of output?

Answers: 3

Answer

Business, 22.06.2019 19:40

Best burger is a major fast food chain. its managers are motivated to grow the firm in order to increase their market power and change the industry structure in their favor. which of the following strategies is most associated with their motive for growth? a. employing celebrity spokespeople b. implementing automated burger-making machinery c. purchasing competitors d. increasing executive salaries

Answers: 3

Answer

You know the right answer?

Fermento sells a wine it purchases from a local brewer. Fermento stocked up on the wine throughout t...

Questions