Question
Assume that the Taft Farmers had gross grain sales of $187,955,177, cost of goods sold (grain purchases) of $175,125,852 and a net income from grain
Assume that the Taft Farmers had gross grain sales of $187,955,177, cost of goods sold (grain purchases) of $175,125,852 and a net income from grain merchandizing of $4,783,921 in 2021. The cooperatives Board of Directors votes to place $275,000 into an unallocated reserve and allocate the remaining $4,508,921to patrons. Please answer the following six questions using this information.
If Lars Larson sold $678,555 of grain to the Taft Farmers Elevator Cooperative in 2021 what would Larss total patronage allocation be? Please round to 6 decimals (ex. 0.023456)
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