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Gnom [1K]
3 years ago
7

Bates Manufacturing purchased merchandise inventory for $10,000. At the end of the accounting period it has a market value of $8

,700. Using the lower-of-cost-or-market rule, what is amount to report on the Balance Sheet as Merchandise Inventory?
Business
1 answer:
Serggg [28]3 years ago
8 0

Answer:

$8,700

Explanation:

According to the accounting principle, the inventory should be valued at lower of cost or market value and the same is presented on the balance sheet.

The purchase value of  inventory is $10,000

And, the market value of inventory is $8,700

So, the lower value would be $8,700 and the same is reported on the balance sheet

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There is a system in the axon, separate from the movement of the action potential along the surface of the axon, that transports
Alik [6]

Answer: Synapse

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7 0
3 years ago
Seahorse Incorporated, which only has one product, has provided the following data concerning its most recent month of operation
ra1l [238]

Answer:

Unit product cost = $107

Explanation:

<em>Absorption costing is a method of costing where production units and inventories are value at the full cost per unit. Here, fixed overheads are charged to all units produced using an overhead absorption rate</em>

The full cost per unit = D.mat cost + D.labour cost + Variable overheads+ Fixed overheads

Fixed production overhead cost per unit

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=$23 per unit

Full cost per unit

= $42  + $31 + $11 + 23

= $107

7 0
3 years ago
Capitalizing goodwill only when it is purchased in an arm's-length transaction, and not capitalizing any goodwill generated inte
stiv31 [10]

Answer:

The correct answer is (C)

Explanation:

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7 0
3 years ago
Tools, equipment, and factories used in the production of goods and services;
Luba_88 [7]

Answer:

capital

Explanation:

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4 0
4 years ago
Read 2 more answers
Define numeric records management and list three reasons for storing records by the numerical method.
Kryger [21]

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Numeric record management ensures high accuracy where a high volume of files can be retrieved and re-filed frequently. A color code label is applied and it ensures file retrieval and re-shelving faster and with less confusion. The first, middle, and last number changes together with the color code. The color gives a visual clue which boosts the speed and efficiency of the filling process.

Management is the management of an organization, such as a corporation, non-profit organization, or government agency. This is the art and science of managing company resources.

t guides the group's efforts towards achieving specific, predetermined goals. “Management” is the process of cooperating with and working through others to effectively achieve organizational goals by using limited resources efficiently in a changing world.

Help Group Achieve Goals - Organize production factors, gather and organize resources, and effectively integrate resources to achieve goals. It directs the group's efforts toward achieving pre-established goals.

Learn more about  management here

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7 0
2 years ago
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