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VARVARA [1.3K]
2 years ago
15

To use the _____ method, a company must maintain records of inventory and purchases at cost and at current selling price.

Business
1 answer:
rjkz [21]2 years ago
7 0

To use the retail inventory method, a company must maintain records of inventory and purchases at cost and at current selling price.

What is the Retail Inventory Method?

The retail inventory method is a method of accounting used to analyse the value of a store's merchandise. The retail method gives the ending inventory balance for a store by calculating the cost of inventory similar to the price of the merchandise.

What are benefits of the retail inventory method and how is it applied?

The main benefits  of the retail inventory method lies in its simplicity. It's a quick calculation that can give you an probable  of how much inventory you have. This can help  you in taking decisions when it comes to purchasing and budgeting.

Learn more about retail inventory :

brainly.com/question/24304410

#SPJ4

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Alex, brad, and carl are partners. the profit and rule sharing rule between them is 4:3:3 in the alphabetical order. the partner
goblinko [34]

If i understand your question properly, you want to determine how much each partner wiil have based on the sharing ratio.

Answer:

Alex- $40,000

Brad- $30,000

Carl- $30,000

Explanation:

For a net loss of $100,000 shared between partners in the ratio 4:3:3, the value of each partner's ratio can be calculated as seen below.

Step 1: Add the ratios

i.e; 4 + 3 + 3 = 10

Step 2: Calculate the value of each ratio in $100,000 using te formula

(ratio value ÷ total ratio) × $100,000

For Alex, we have

(4 ÷ 10) × $100,000

= 0.4 × $100,000

= $40,000

For Brad, we have

(3 ÷ 10) × $100,000

= 0.3 × $100,000

= $30,000

For Carl, we have

(3 ÷ 10) × $100,000

= 0.3 × $100,000

= $30,000

N.B: To confirm if the value of each ratio is correct, you can add up the values to see if it makes $100,000. If it doesn't, then the calculatio is wrong.

Adding the value of the ratios, we have $40,000 + $30,000 + $30,000 = $100,000.

i hope this helps

6 0
3 years ago
Stinehelfer Beet Processors, Inc., processes sugar beets in batches.
babunello [35]

Answer:

$19

Explanation:

The computation of the financial advantage or disadvantage is shown below:

= Sale value after processed further - cost of processed further - sale value without processed further

= $91 - $29 - $43

= $19

Simply we deducted the cost of processed further and the sale value without processed further from the Sale value after processed further so that the correct amount can come

All other information which is given is not relevant. Hence, ignored it

5 0
4 years ago
Yam is a gourmet chef who runs a small catering business in a competitive industry. Yam specializes in making wedding cakes. Yam
mr_godi [17]

Answer:

She should continue producing 20 wedding cakes a month.

Explanation:

From the information in the question

Revenue per unit= Total revenue/Units produced

Revenue per unit= 5000/20= $250

We were given the marginal cost as $200

So our revenue per month ($250) is higher than marginal cost ($200)

Yam is making a profit of $50, so she should continue producing 20 cakes per month

4 0
4 years ago
A company's mission statement does NOT:_____.
kondor19780726 [428]

Answer:d) give the company its own identity. explain "where we are headed.

Explanation: A company's mission statement is a statement that specifically highlights the following

(1) The needs of the customer which the company plans to fulfill.

(2) Highlight the company's products and services which are rendered.

(3) It should also identify the Customer or market it is trying to reach.

This is what a good mission statement should be, The mission statement is different from the vision statement which tends to highlight where the company is heading to in the future.

5 0
3 years ago
The term economies of scale refers to the fact that as the:
frutty [35]

Answer:

quantity of product produced in a given period increases, the cost of manufacturing each unit decreases

Explanation:

Economies of scale happens when the average total cost (variable + fixed production costs per unit) decreases as total output increases. This generally takes place because fixed costs are the same for a small number of units produced or a large number of units produced, so the average fixed cost per unit tend to decrease as more units are produced (at least up to certain point). Variable production costs per unit can also decrease as total output increases since materials might be purchased in larger quantities resulting in higher discounts or labor productivity increases.

7 0
3 years ago
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