Retail method; gross profit method selected data on merchandise inventory, purchases, and sales for jaffe co. and coronado co. are as follows: cost retail jaffe co. merchandise inventory, february 1 $400,000 $615,000 transactions during february: purchases (net) 4,055,000 5,325,000 sales 5,100,000 coronado co. merchandise inventory, may 1 $400,000 transactions during may through october: purchases (net) 3,150,000 sales 4,750,000 estimated gross profit rate 35% required: 1. determine the estimated cost of the merchandise inventory of jaffe co. on february 28 by the retail method, presenting details of the computations. jaffe co. cost of the merchandise inventory february 28 cost retail $ $ $ $ ratio of cost to retail price: % $ $ 2a. estimate the cost of the merchandise inventory of coronado co. on october 31 by the gross profit method, presenting details of the computations.

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.

One of the benefits of a well designed ergonomic work environment is low operating costs is true or false