Saudi Arabia has the most
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Beginning Finished Goods Inventory $19,500
Ending Finished Goods Inventory$18,000
Cost of Goods Manufactured $126,800
To calculate the cost of goods sold we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 19,500 + 126,800 - 18,000= $128,300
Answer:
c. a debit to Inventory for $10,000
Explanation:
Whenever goods are purchased on a discount to be received on payment basis, the inventory is first recorded at cost.
Also as per the general rule, discount is a kind of income, and incomes are recorded only when earned, therefore, the cost of inventory shall be reduced by 4% only when the payment is made, therefore the inventory on the date of purchase shall be recorded at $10,000 only and not for $9,600.
Thus, correct option is c
Answer: Mirror image rule
Explanation:
It should be noted that the contract formation defenses are fraud, illegality, incapacity, unconscionability, duress and statute of Frauds.
The mirror image rule is not among the defense to the formation of w contract. It implies that an offer should be accepted with no changes made to the offer.
C. Or at least that seems to be the most likely. There are only two similar possible answers which is normally a clue that one of them is wrong and you should be choosing based off how it will benefit you not how it is easier on you.
Hope this helps!
