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2 years ago

when valuing raw materials inventory at lower-of-cost-or-market, what is the meaning of the term market

1 answer:

7 0

when valuing raw materials inventory at lower-of-cost-or-market, what is the meaning of the term market Replacement cost, Net realizable value, or Net realizable value less a normal profit margin.

<h3>What is Replacement cost?</h3>

The cost to replace a critical asset, such as a piece of real estate, an investment security, a lien, or another object, with one of equal or greater worth is referred to as replacement cost.
A replacement cost, which is often referred to as "replacement value," can change depending on a variety of variables, including the cost of preparing assets for use and the market worth of the parts needed to rebuild or repurchase the asset.
Replacement costs are frequently used by insurance companies to calculate the value of an insured item. Accountants, who use depreciation to expense the cost of an asset over its useful life, also regularly employ replacement costs.

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HealthStore Inc. provides a broad and diverse range of services for the healthcare industry. It also manufactures a variety of h

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Answer:

Global product division Structure

Explanation:

A global product division structure is a form of structure that encompass the functions important to each goods or services a product/service division produce. It is the situation whereby domestic divisions are allowed to take global responsibility for product groups. The product lines from around the world are managed from home country based product division. They are part of a global organizational structure when the basic division of the firm's activities is based on product/service categories.

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3 years ago

Read 2 more answers

Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $740 with his state income tax ret

oksano4ka [1.4K]

Answer: $5960

Explanation:

Based on the analysis and the information provided in the question, the amount of taxes that Tim can deduct as an itemized deduction will be the addition of the Tim's state income tax return for the previous year, the state tax that was held during the year and the estimated state tax payment. This will be:

= $740 + $4200 + $1020

= $5960

Therefore, the amount of taxes that Tim can deduct as an itemized deduction will be $5960.

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3 years ago

Lower of Cost or Market The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Uni

Nina [5.8K]

Answer:

$52,860

Explanation:

The computation of the ending inventory using the lower of cost or market method is shown below:

Product Cost Net realizable value Lower of cost or NRV

RSK-89013 600 × $38 = $22,800 600 × $47 = $28,800 $22,800

LKW-91247 420 × $47 = $19,740 420 × $40 = $16,800 $16,800

QEC-57429 510 × $26 = $13,260 510 × $32 = $16,320 $13,260

Carrying value of the ending inventory is $52,860

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3 years ago

Poppy is interested in computer networking. What online resource can she use to find out the education and training for this car

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3 years ago

You meet a friend of yours for lunch. He is a supplier of coffee machines. While talking business, you mention to him that you'v

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Answer and explanation:

There are several factors to be considered at the moment of setting the price of a good or service that is going to be offered. Raw materials, production costs per unit, and labor are the most common. However, setting the price based on the competitors seems vague. An organization cannot depend on this matter strictly of another organization since the reasons for getting to the competitors' price is unknown.

Basing the price of a product based on demand and supply could be a good option. It will imply the price level will fluctuate according to market requests. By doing this, companies make sure to keep their expected revenues almost the same regardless of what competitors might be doing.

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3 years ago