Lcm requires to value inventory at the lower of acquisition cost or net realizable value.
Net realizable value = $27 - $1 = $26
Cost = $30
Therefore, it would be valued at $26
Answer:
anchoring bias
Explanation:
In business, anchoring bias happens when a consumer relies on pre-existing information (in this case sales price) to make their purchasing decisions. E.g. a sales promotion where a before price is set as the anchor to show that the after price (with the discount) is a really good deal.
In this case, John started to negotiate a sales price using the sticker price as an anchor, and ended up making a good deal because he got a $2,000 discount.
The opponents of prohibition argued that doing the Moralizing governmental regulations was contrary to basic constitutional values and consumer freedoms.
<h3>What is the
Moralizing regulation?</h3>
Basically, the term "Moralizing" means the action of commenting on issues of right and wrong, such as with an unfounded air of superiority or having an overly critical point of view on issues of right and wrong.
From the moral values, the government regulation can emphasizes respect for rules and ethical considerations as the rules are the supreme guarantor of morality, ethics, and justice.
However, the opponents of prohibition argued that doing the Moralizing governmental regulations was contrary to basic constitutional values and consumer freedoms.
Because the government rules are the supreme guarantor of morality, ethics, and justice, then, the government should grant scheduled importance to the law along the way of earning decisions.
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