Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

4. Merchandising Operations

Net Sales

Financial Accounting

4. Merchandising Operations

Net Sales

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Multiple Choice

If Amira bought 3 chicken wings for \$4.80, and she spent a total of \$27.20, how many chicken wings did she buy in total?

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Verified step by step guidance

Step 1: Determine the cost per chicken wing by dividing the total cost of 3 chicken wings by the number of wings. Use the formula: $ \text{Cost per wing} = \frac{\text{Total cost of 3 wings}}{\text{Number of wings}} $.

Step 2: Calculate the cost per wing using the given values: $ \text{Cost per wing} = \frac{4.80}{3} $.

Step 3: Use the cost per wing to determine the total number of wings Amira bought. Divide the total amount spent by the cost per wing: $ \text{Total wings} = \frac{\text{Total amount spent}}{\text{Cost per wing}} $.

Step 4: Substitute the given values into the formula: $ \text{Total wings} = \frac{27.20}{\text{Cost per wing}} $.

Step 5: Perform the division to find the total number of wings Amira bought. Ensure the result is a whole number since chicken wings cannot be fractional.