i believe it is A, you’re welcome!
Answer:
final lower-of-cost-or-market inventory value is $155
correct option is $155
Explanation:
given data
product cost = $162
replacement cost = $155
realizable value = $160
profit margin = $10
to find out
final lower-of-cost-or-market inventory value
solution
we know that according to the inventory accounting that
inventory value is the lower of cost or the market value or the replacement cost is taking as basis for the inventory fair value so
here we have given value $162 and $155 and $160
so the lower value of all these is $155
so final lower-of-cost-or-market inventory value is $155
correct option is $155
Every day, Scientists work hard to come up with cures for auto immune disease; like rheumatoid arthritis.
Answer: a. Food stamps
Explanation:
In-kind transfer programs aim to help the lower income members of society afford certain basic needs. They do not involve cash payments to the intended recipients but rather the government bears some of the cost instead.
Food stamps are in-kind transfer programs because they do not involve cash payments to the recipients but the government bears the cost when the recipients use the stamps.
Answer: $50,000
Explanation:
To calculate David's basis in S corporation we subtract the value of the land at it's current value from his basis in S corporation stock of $270,000 on the distribution date.
We will then add his portion of the capital gain on the land because all shareholders shared it equally and as such it should increase his basis as it did theirs.
Calculating then we have,
= 270,000 - 240,000 + 20,000
= $50,000
David's basis in the S corporation becomes $50,000.