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3 years ago

Consider the following information pertaining to OldWest's inventory:

Business

1 answer:

kipiarov [429]3 years ago

4 0

Answer:

$2,664

Explanation:

Generally Acceptable Accounting Principles requires that the closing inventory should be valued at lower of cost and Net realizable value.

Product Quantity Total Cost Total Net Realizable Value

Revolvers 13 $126 $155

Spurs 22 $32 $27

Hats 9 $58 $48

Choosing Which one is lower for each product

Product Quantity Rate Total Value

Revolvers 13 $126 $1,638

Spurs 22 $27 $ 594

Hats 9 $48 $432

Total Closing Inventory Value = $1,638 + $594 + $432 = $2664

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3 years ago

A company issues $17200000, 9.8%, 20-year bonds to yield 10% on January 1, 2020. Interest is paid on June 30 and December 31. Th

tekilochka [14]

Answer:

$1,691,122

Explanation:

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3 years ago

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Answer: c . Depreciation

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When accounting for fixed assets, it is important that they are recorded at their book value to reflect the effects of being utilized. This means that depreciation needs to be charged on fixed assets.

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3 years ago

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Answer:

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4 years ago