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Accounting help! A company just starting business made the following four inventory purchases?
A company just starting business made the following four inventory purchases in June DateUnitsCostJune 1150 units$390June 10200 units585June 15200 units630June 28150 units495 Total$2,100A physical count of merchandise inventory on June 30 reveals that there are 175 units on hand. Using the periodic inventory system and FIFO inventory method, the amount allocated to cost of goods sold for June is So I multiplied the units by the cash and added them to get a total of 375,750. 175 were on hand so 150 were priced at 495 74250 and 25 at 690 17250 . 91,500. I subtracted this from the total of 375,750 and got 284,250 for the cost of goods sold???
Difficulty with starting business due to business partners, advice needed?
I'll make this as short as possible. I started trying to get an online start up off the ground with two friends. Months three or four months have passed, and they've put off a lot of the work. We're college students, and their argument is that they've had no time. They're saying it's best to start all of this the following semester, where we can better do the required research with more spare time. I feel like we're just going to keep putting this off, though, and we're never going to get anywhere they're just not putting in the work, while I, quite frankly, am, and they accuse me of being too eager. I convinced them to have a few focus groups next week. We've been planning these for a week or two now, and I've gotten a few people, but they've gotten no one, and they've consistently said they're both too busy to finalize the research questions together, and yet somehow next semester they will have the time. I feel like these focus groups are going to fail miserably, purely since we won't have enough people, nor will the questions be finalized. We've been serious about this this isn't some stint, we were and hopefully still are very serious about this. I constantly say " progress over perfection," and they both object to this statement very much. My question is whether I'm wrong in trying to " rush things" purely because I feel like they're continuously putting this off, and I want some sort of progress before the summer vacation? If I'm right, and if the focus groups fail due to a lack of people and the questions not being finalized, am I justified in leaving?
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