The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: Weighted average inventory method.
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What is Weighted average inventory method?</h3>
The COGS and inventory amounts are determined using a weighted average in the Weighted Average Cost (WAC) technique of inventory valuation in accounting. The weighted average cost method divides the price of the items up for grabs by the quantity of them. Under IFRS accounting as well as GAAP, the WAC approach is acceptable. Beginning inventory value plus acquisitions are used to compute costs of products that are offered for sale.
The number of units a business can sell, or the total number of units in inventory, is determined by adding the beginning inventory in units plus the purchases in units.
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Answer:
The budgeted Accounts Receivable balance on July 31 is $ 244,800.
Explanation:
Since the company sells 85% credit of which 60% is collected in the month of sale and 40% in the following month. This implies that where the sales for the month of June is $ 680,000, all of the credit sales for the month of June would have been collected by 31 July. Hence no receivables will be budgeted for considering June sales by 31 July.
For sales to be made in July budgeted at $ 720,000, 85% will be credit sales
This amounts to
Credit sales for July = 85% of 720000
= 
= $ 612,000
60% of the credit sales in the month of July will be collected by 31 July while 40% will be collected in the following month hence,
Accounts Receivable balance on July 31
= 40% of 612000
= 
= $ 244,800
Answer: True
It can be replaced by traditional systems, however, it is not the most appropriate, because information systems help us organize information about a company so that it can be good for reading, analyzing and making decisions, if it does not comply with these principles then we can say that the company is becoming a bit more inefficient.
Traditional systems work, however, in terms of information systems, we can also have the decrease in information errors, so it is important that they be as automated as possible.
The Consumer Product Safety Commission was established to protect consumers from poor manufacturing and to make sure that products met quality and safety standards.
