Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
The true rate of interest that you pay on a loan is called the APR interest rates
Answer:
The correct option is a) Gross profit and ending inventory.
Explanation:
The inventory technique is a method of accounting for calculating the value of an inventory. The approach calculates the ending inventory balance by comparing the inventory cost to the merchandise price.
There are three methods for valuing inventory whic are FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost) (Weighted Average Cost). The gross profit and ending inventory are affected differently by each of these costing methods.
This implies that the selected inventory costing method impacts gross profit and ending inventory.
Therefore, the correct option is a) Gross profit and ending inventory.
Answer:
The current ratio is 2.98
Explanation:
total current assets = cash + receivables + inventory + other current assets
= $102 million + 94 million + 182 million + 18 million
= $396 million
total current liabilities = accounts payable + current portion of long term debt
= $98 million + $35 million
= $133 million
current ratio = current assets/current liabilities
= [$396 million]/[$133 million]
= 2.98
Therefore, The current ratio is 2.98
