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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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Accumulated depreciation shows a beginning balance of $9,300 and an ending balance of $10,700. How much depreciation expense was
faust18 [17]

Answer:

$1400

Explanation:

Accumulated depreciation is the total depreciation of an asset and is recorded on the balance sheet while the depreciation expense is recorded on the income statement as an expense.

The depreciation expense is the difference between the accumulated depreciation at the end and the accumulated depreciation at the beginning. It is given as:

Depreciation expense = accumulated depreciation at the end - accumulated depreciation at the beginning = $10700 - $9300 = $1400

Depreciation expense = $1400

6 0
3 years ago
An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the pri
eduard
The right answer for the question that is being asked and shown above is that: "at the price consumers are willing to pay." An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the price of the product <span>at the price consumers are willing to pay.</span>
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3 years ago
Bob has a loan that he does not think he can afford and wants to make sure his credit score is not affected. Which of the follow
Simora [160]
A. <span>making at least the minimum payment, even if they are late</span>
6 0
3 years ago
The Dahle Manufacturing Company has two production departments (Assembly and Finishing) and two service departments (Human Resou
ikadub [295]

Answer:

$54,000

Explanation:

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Using this formula

Human Resources cost allocated to the Assembly Department=Human Resources budgeted costs* Human resource percentage

Let plug in the formula

Human Resources cost allocated to the Assembly Department=$90,000 x 60%

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3 0
2 years ago
In ________ organizational cultures, more individuality is shown through the organization's rules being less strictly applied.
kap26 [50]

Answer:

weak

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Therefore the weak should be the term that should be applied in the current situation

3 0
3 years ago
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