For this question only, assume Ocean sold inventory to Dolphin Company for $40, 200 at the beginning of 2024. There is a 60% chance that Dolphin will purchase additional inventory by the end of the year that would lead to an overall 15% discount. Calculate Ocean's revenue from the sale using the methods below. The weighted average amount is closest to: [Select] The most likely amount is closest to:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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For this question only, assume Ocean sold inventory to Dolphin Company for $40, 200 at the
beginning of 2024. There is a 60% chance that Dolphin will purchase additional inventory by
the end of the year that would lead to an overall 15% discount.
Calculate Ocean's revenue from the sale using the methods below.
The weighted average amount is closest to:
[Select]
The most likely amount is closest to:
Transcribed Image Text:For this question only, assume Ocean sold inventory to Dolphin Company for $40, 200 at the beginning of 2024. There is a 60% chance that Dolphin will purchase additional inventory by the end of the year that would lead to an overall 15% discount. Calculate Ocean's revenue from the sale using the methods below. The weighted average amount is closest to: [Select] The most likely amount is closest to:
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