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Leya [2.2K]
3 years ago
7

Q 9.37: when should the gross profit method of inventory valuation not be used because it is invalid?

Business
1 answer:
rusak2 [61]3 years ago
5 0
At  the  end  of  given  period the  gross  profit  method  is  required  to  estimate  inventory.The  valuation  become  invalid  when the  following  are  not  available.the  value   for   the  beginning of inventory,records  of  purchase  made, the  total  sale  during  the  period   and  the  gross  profit  margin.
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A purchasing consortium:
zzz [600]

Answer:

a. consists of two or more independent organizations that combine their requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers.

Explanation:

A purchasing consortium consists of two or more independent organizations that combine their requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers. It is also known as group purchasing organization or cooperative purchasing and typically comprises of organizations sharing similar purchasing requirements or needs coming together in order to enhance their purchasing or bargaining power (capabilities) in the market.

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makkiz [27]
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4 0
3 years ago
On September 1, Boylan Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inve
natima [27]

Answer:

Sept 6.   DR Inventory (80 * 20)                                  1,600  

                    CR Accounts Payable                                             $1,600

Sept 9.    DR Inventory                                                    80

                    CR Cash                                                                   80

Sept 10.  DR Accounts Payable                                     63

                    CR Inventory                                                            63

Sept 12.  DR Accounts Receivable (26 * 31)                806

                     CR Sales Revenue                                                806

               DR Cost of Goods Sold  (21 * 26)                 546

                     CR Inventory                                                         546

Sept 14.    DR Sales Returns and Allowances                 31

                     CR Accounts Receivable                                        31

                 DR Inventory                                                  21

                      CR Cost of Goods Sold                                         21

Sept. 20    DR Accounts Receivable (30 * 32)             960

                        CR Sales Revenue                                              960

                  DR Cost of Goods Sold (30 * 21)               630

                        CR Inventory                                                        630

3 0
3 years ago
The 20% off sale is a better deal than the $200 rebate or $150 coupon for the $1,500 dining set. the porters budgeted $1,250 for
Sonbull [250]

Answer:

the answer is $ 300

Explanation:

because by subtracting 1,500 - 1,200 it gives us 250 and the only one who gives us a similar pressure is multiply (1,500) (. 20) it gives us 300

5 0
3 years ago
Read 2 more answers
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