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agasfer [191]
1 year ago
5

under which inventory cost flow assumption does inventory on the balance sheet best approximate its current cost?

Business
1 answer:
scoray [572]1 year ago
8 0

The inventory cost flow assumption does inventory on the balance sheet best approximate its current cost is first-in, first-out.

Both the raw materials used in production and the finished commodities that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory because it is one of the main sources of revenue generation and, consequently, a source of profits for the company's shareholders. There are three different categories of inventory: finished commodities, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset.

Both the products that are on hand for sale and the raw materials required to make those products are considered inventory.

On the balance sheet of an organization, it is categorized as a current asset.

The three different categories of inventory are raw materials, finished commodities, and work-in-progress.

The first-in, first-out method, the last-in, first-out method, and the weighted average method are the three methods used to value inventory.

Learn more about inventory here:

brainly.com/question/14184995

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1 year ago
_______ refers to changing one or more of a product's characteristics; while, a _______ is the development of a product closely
jeka57 [31]

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3 years ago
If it costs $100000 to put on an event for four weeks (28 consecutive nights) how much revenue per night is needed to make $2000
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If a company's cost of capital increases unexpectedly, which of the following actions will help it maintain or increase its stoc
Kitty [74]

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III) Increase its gross margin

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If the company increases its gross margin, it will have a direct impact on the company's net profit. The higher a company's net profit, the higher its value = higher stock price.

The only option that increases the value of the company is to increase its net profit, since:

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3 years ago
The aggregate quantity of goods and services demanded changes as the price level rises because
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Answer:

a.

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I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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3 years ago
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