Phillips Supply uses a periodic inventory system but needs to determine the approximate amount of inventory at the end of each month without taking a physical inventory. Phillips has provided the following inventory data. Cost Price Retail Selling Price
Inventory of merchandise, June 30   $300,000 $500,000
Purchases during July   222,000 400,000
Goods available for sale during July   $522,000 $900,000
Net sales during July $600,000

Required:
a. Estimate the cost of goods sold and the cost of the July 31 ending inventory using the retail method of evaluation.
b. Was the cost of Phillipsâs inventory, as a percentage of retail selling prices, higher or lower in July than it was in June? Explain.

Your mother's well-diversified portfolio has an expected return of 12.0% and a beta of 1.20. she is in the process of buying 100 shares of safety corp. at $10 a share and adding it to her portfolio. safety has an expected return of 15.0% and a beta of 2.00. the total value of your current portfolio is $9,000. what will the expected return and beta on the portfolio be after the purchase of the safety stock?

Kis the insured and p is the sole beneficiary on a life insurance policy. both are involved in a fatal accident where k dies before p. under the common disaster provision, which of these statements is true?

Lindon company is the exclusive distributor for an automotive product that sells for $30.00 per unit and has a cm ratio of 30%. the company’s fixed expenses are $162,000 per year. the company plans to sell 20,200 units this year. required: 1. what are the variable expenses per unit? (round your "per unit" answer to 2 decimal places.) 2. what is the break-even point in unit sales and in dollar sales? 3. what amount of unit sales and dollar sales is required to attain a target profit of $72,000 per year? 4. assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $3.00 per unit. what is the company’s new break-even point in unit sales and in dollar sales? what dollar sales is required to attain a target profit of $72,000?