Answer:
d. Specific identification method.
Explanation:
The specific indentification method relies on the specific categorization of the ending inventory, by attaching the date or purchase and the exact cost to every item of the ending inventory.
As it can be seen, the method is very accurate, because it can give the real value of ending inventory at the end of the year. However, it is also very time-consuming and difficult to keep up with, and for this reason most companies only use this method for items that are valuable, or that can be easily categorized in a specific date and price.
Most companies use other inventory valuation methods like LIFO, FIFO, and weighted average.
Answer: Yes, although the salesperson did not make any express warranties, the UCC imposes an implied warranty of merchantability under which the rotisserie is guaranteed to be fit for the ordinary purposes for which it is used.
Explanation:
From the information given, we can infer that Mason has a recourse. Even though the salesperson did not make any express warranties, it should be noted that the UCC imposes an implied warranty of merchantability and hence, the rotisserie will be guaranteed to be fit for the purposes ordinarily for which it is used.
Therefore, the correct option will be D.
Answer:
Hi, the question you have provided is <em>missing data</em> on the Purchases and Available Inventory for Sale on the Company :
Here are the important principles to consider when calculating the value of Cost of Goods Sold using LIFO periodic Inventory Costing System.
LIFO stands for Last - In - First - Out. This method assumes that the last goods purchased are the first ones to be issued to the final customer or requisition department.
This means the valuation of inventory will be at the value of the <em>earliest </em>goods purchased and that the cost of goods sold will be at the <em>latest </em>prices.
<u>Units Sold Calculation</u>
In this question we are provided with Ending Inventory Balance of 26 units. Since its Periodic system, calculation of sales units will simply be Total Balance Available for Sale (Opening Balance plus Purchases) less Ending Balance of Inventory units.
<u>Cost of Sales Calculation</u>
Now with the units sold having been calculated, we have to use the principles of LIFO to make sure that of those units sold, last goods purchased are the first ones to be issued to the final customer.
Answer: D. Zoning restrictions is not a key success factor in the country location decision.
Explanation: Location of markets, labor productivity and government rules are all very important success factors a company needs to think about before making a decision on which country they want to operate in. The zoning restrictions are not as important because there are usually ways around that by picking a different place in a specific country. The location of markets to buy and sell goods, amount of labor they can expect to be useful and the governments rules on their business are all extremely important.
