The reported value of this company's ending inventory if LCM is applied to individual items is $870.
<h3>What is reported value?</h3>
The value of any assets or liabilities or any such credentials, which is recorded in the books of official record for the purpose of accounting as per the standards, is known as the reported value.
The computation of the reported value in the given condition will be,
- Item 1 – 5 Units x $45= $225;
- Item 2 – 7 units x $60= $420;
- Item 3 – 9 Units x $25= $225.
The summation of all the reported values will be,
$(225+420+225)= $870.
Hence, the reported value of the inventory of the company is as aforementioned.
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Answer: See explanation
Explanation:
The retained earnings will be calculated as:
= Begining retainers earnings + Net income - Dividend.
Year 1:
Retained earning = 0 + 2000 - 1700
= 300.
Year 2:
Retained earning = 300 + 2600 - 1600
= 1300
Year 3:
Retained earning = 1300 + 2600 - 2200
= 1700
Year 4:
Retained earning = 1700 + 5900 - 2900
= 4700
Year 5:
Retained earning = 4700 + 8800 - 3100
= 10400
Answer:
20,000 units
Explanation:
Number of units in inventory at the end of quarter 3
= 3(42,500)
=127,500
Hence:
127,500- 37,500-45,000-25,000
= 20,000 units
Therefore if production strategy is used the number of units in inventory at the end of quarter 3 is 20,000 units
GDP (or Gross Domestic Product) is the total value of goods and/or services provided in a country during one year. So, if Disney were to open another amusement park, it would bring the value of Disney up, which means that this would be counted as GDP.
