1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
anyanavicka [17]
4 years ago
10

Company had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $12 each using the last-in,

first-out (LIFO) method. The current replacement cost is $10 per unit. The selling price charged by Sandra Company for each finished product is $15. In order to record the adjusting entry needed under the lower-of-cost-or-market rule, the Cost of Goods Sold will be:
Business
1 answer:
Georgia [21]4 years ago
8 0

Answer:

Debited by $400

Explanation:

Calculation for the Cost of Goods Sold

Using this formula

Cost of Goods Sold= Inventory on hand*(Cost-Current replacement cost)

Let plug in the formula

Cost of Goods Sold=200 units * ($12 - $10)

Cost of Goods Sold= 200 units*2

Cost of Goods Sold = $400 Debited

Therefore the Cost of Goods Sold will be:$400 Debited

You might be interested in
Three aspects in the cover page of a business plan
BARSIC [14]

Answer:

Explanation:

Your business plan cover page should include:

Your company logo.

Document title and business name.

Business address and contact information.

Business plan completion date.

Confidentiality statement.

6 0
3 years ago
The significant increase in consumer demand following World War II marked the beginning of the:
Tom [10]

Answer:

b. marketing concept era.

This era existed from 60's to 90's. And was called the 'baby boomer era'.  This era was focused on satisfy the client and producing goods and services.

And in order to satisfy this they use strategies of marketing in order to attract the customers.

Explanation:

a. production era.

False. This era was from 1860-1920 since this era occurs during the Industrial revolution and  not at the beginning of the second world war.

b. marketing concept era.

Correct. This era existed from 60's to 90's. And was called the 'baby boomer era'.  This era was focused on satisfy the client and producing goods and services.

And in order to satisfy this they use strategies of marketing in order to attract the customers.

c. customer relationship era.

False. This era was from 1990-2010 and was focused in create long-term relationships. So then is not the correct option if we analyze the historical time.

d. selling era.

This era was from 1920 and 1940 and not correspond to the begin of the second world war so this one is not the correct option.

6 0
3 years ago
Read 2 more answers
Which phrase best completes the list?
soldi70 [24.7K]
It would be Ctax rates set by private companies plsmark braliest
5 0
3 years ago
Read 2 more answers
In the seven step military problem solving process you have identified the problem. what is the next step?
zhannawk [14.2K]
The next step is Gather information. The objective is to have high caliber, satisfactory choices made in battle and preparing circumstances. The Military Problem Solving Process enables pioneers to confront complex issues in circumstances where data may be restricted. 
While creating conceivable arrangements amid the Military Problem Solving Process, the pioneers will precisely record every conceivable arrangement and compress the Solution in composing and outlines.
4 0
3 years ago
Stan’s savings account has a balance of $2257. After 5 years, what will the amount of interest be at 10% compounded quarterly?
sladkih [1.3K]

Answer:

b

Explanation:

7 0
3 years ago
Other questions:
  • A hostile interaction between people over the Internet is called a _________.
    7·2 answers
  • In September of Year 1, Hansen Company issued a note payable to borrow money from its bank. Principal and interest on the note w
    14·1 answer
  • A negative externality or spillover cost occurs when
    10·1 answer
  • Net exports might be a negative amount if Americans
    14·1 answer
  • When representing the seller, which duties does a real estate licensee owe to an unrepresented buyer? Honest dealing and disclos
    7·1 answer
  • The is the interest rate that a firm pays on any new debt financing. Andalusian Limited (AL) can borrow funds at an interest rat
    10·1 answer
  • A __________ card is issued by a credit union or bank and allows the user to purchase goods and services by electronically deduc
    14·1 answer
  • The shape of the production function reflects the law of diminishing marginal product of labor.a. Trueb. False
    11·1 answer
  • Globalization is the process of
    13·1 answer
  • Disagreement about an employee’s performance as perceived by different sources is ____________ a problem.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!