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atroni [7]
3 years ago
6

Carla Vista Inc. has the following information related to an item in its ending inventory. Product 66 has a cost of $152, a repl

acement cost of $143, a net realizable value of $148, and a normal profit margin of $12. What is the final lower-of-cost-or-market inventory value for product 66? $143. $148. $140. $152.
Business
1 answer:
Inessa05 [86]3 years ago
8 0

Answer:

The correct option is $143

Explanation:

The lower-of-cost-or-market inventory value analysis requires that inventory be valued at lower initial cost price and marketing facing prices.

The market-inclined prices are replacement cost of $143 and net realizable value of $148,obviously,the lower of the market prices is replacement cost of $143.

Finally,the net realizable when compared to initial cost of $152,the replacement cost ended up being  the lower,hence the inventory of product 66 should be valued at replacement cost of $143

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Explanation:

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Rita and Paul are married and both work outside the home. Paul works as a contractor, and Rita is employed by a company. Paul te
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What are the kinds of purchases for which you’ll "spare no expense"? What kinds of purchases do you want to buy spending as litt
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Answer:

"Spare no Expense" Purchases

When purchasing long-term items (assets) which cannot be consumed within a short-term period, one tends to "spare no expense."  These purchases are dictated by their quality and not price.  For example, in constructing a building an individual or an entity does not consider the price as a deciding factor.  Instead, the entity goes for the best quality at whatever price.  In such a situation, it can be described as "sparing no expense" because it can spend as possible as is needed to ensure that the quality of the construction was of the highest standard.  A wealthy man does not spare any expense to receive medical treatment.  Vacationists spare no expense to go on vacation

These purchases or items come with high prices and they last longer than a year.

On the other hand, one does not want to spend much resources on goods that are not durable.  So, the person involved tend to spend as little as possible.  No one wants to buy expensive food items.  But, the same person can pay for an exorbitant car.  No one wants to expend much resources on inner wears, but the same person can spend thousand for the outer wears, to put up appearances.

Ostentatious goods that convey image attract higher prices much more than private goods that others co not care whether you use them or not.  This accords with our human natural way of believing in appearances.

The major factors that differentiate between these two categories that drive our attitude regarding price include:

a) Scarcity, b) Longevity, c) Quality, d) Price, e) Durability, f) Ostentation

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The expression "spare no expense" means to spend as much financial resources as needed in order to make something happen or bring about an outcome.

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Answer:

See explanation section

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October 8        Accounts payable         Debit       $720

                        Merchandise Inventory       credit         $720

<em>To record the return of defective goods to Bramble Company. (Using perpetual inventory system)</em>

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