6000
Explanation
Understanding the Problem We are given the beginning inventory, purchases, and cost of goods sold (COGS) for August. We are also given a depreciation rate of 15%. We need to calculate the inventory depreciation expense for August.
Calculating Ending Inventory First, we need to calculate the ending inventory for August. The formula for ending inventory is:
Ending Inventory = Beginning Inventory + Purchases - COGS
For August, we have:
Beginning Inventory = $20,000 Purchases = $60,000 COGS = $40,000
So, the ending inventory for August is:
Ending Inventory = $20,000 + $60,000 - $40,000 = $40,000
Calculating Depreciation Expense Next, we need to calculate the depreciation expense for August. The depreciation rate is 15%, so we multiply the ending inventory by 0.15:
Depreciation Expense = Ending Inventory * Depreciation Rate Depreciation Expense = $40,000 * 0.15 = $6,000
Final Answer Therefore, the inventory depreciation expense for August is $6,000.
Examples
Inventory depreciation is a common concept in accounting. For example, a clothing store might depreciate its inventory at the end of each month to account for factors like obsolescence, damage, or changes in market value. Calculating depreciation helps the store accurately reflect the value of its assets and manage its finances effectively. This ensures that financial statements provide a true and fair view of the company's financial position, which is crucial for making informed business decisions.
To find the number of electrons flowing through a device with a current of 15.0 A over 30 seconds, we calculate the total charge, which is 450 C. We then divide this charge by the charge of a single electron (1.60 x 10^-19 C), resulting in approximately 2.81 x 10^21 electrons. Thus, approximately 2.81 x 10^21 electrons flow through the device.
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