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
Alinara [238K]
3 years ago
11

Ross Electronics has one product in its ending inventory. Per unit data consist of the following: cost, $24; selling price, $40;

selling costs, $9. What unit value should Ross use when applying the lower of cost or net realizable value rule to ending inventory?
Business
1 answer:
Nonamiya [84]3 years ago
5 0

Answer:

Unit value would be $24

Explanation:

Lower of cost is the method which is described as where the inventory that should be recorded at the lowest or the net realizable value (NRV). This method is linked with the principle or the guideline of conservatism.

When Ross is applying the method of lower of cost or net realizable value, to the ending inventory, the unit value would the cost per unit that is $24 and the selling price which is to be taken is $9 as it is the lowest.

You might be interested in
Nolan is applying for a promotion within his company. The formal statement about the job says that he must have a four-year coll
Harman [31]

Answer:

Job specifications

Explanation:

Two sets of statements usually accompany a new job offering when it is published - job descriptions and job specifications.

Job specifications detail the minimum academic qualifications and job-related experiences (among other information) required of an applicant for the job. Job specifications relates more to the ideal person for a job rather than the job itself. As such, job specifications include information relating to the education of an applicant, the minimum length of experience, specifications regarding previous roles and responsibilities, professional qualifications, skills, etc.

On the other hand, job descriptions describe the roles and responsibilities required of a person in role being advertised. It will include day-to-day activities to be carried our in the role, expectations in the role, and sometimes, key performance metrics.

5 0
3 years ago
Which of the following is sold on a commodity market?
Bas_tet [7]
The answer is c because everything has to be processed
7 0
3 years ago
Read 2 more answers
A pharmaceutical company in 2016 is researching the market conditions for their newest cold medicine. They pull demographic data
Schach [20]

Answer:

Secondary data technique is not perfect for marketing research

Explanation:

The secondary method is useful, as it is difficult to perform or conduct a new survey. More, importantly using secondary data technique in marketing research is not an ideal method, because the data may be inaccurate or outdated. The pharmaceutical company was performing marketing research, and usually, the availability of new marketing data is challenging to get from secondary sources.

5 0
3 years ago
On March 1, 2019, Baltimore Corporation had 65,000 shares of common stock outstanding with a par value of $5 per share. On March
andreyandreev [35.5K]

Answer:

retained earnings 175,500

      common stock               48,750

      paid in excess of par   126,750

Explanation:

The diivdends are 15% so we multiply this by the shares outstanding to know the amount of shares:

65,000 x 15% = 9,750 shares

Then we multiply by the market value to know the amount needed:

9,750 x $18 market value = $175,500 stock dividends

The common stock will be 9,750 at par

and the remainder will be paid in excess.

9,750 x 5 = 48,750 CS

175,500 - 48,750 = 126,750

7 0
3 years ago
An investor contributes $10,000 to a limited partnership and signs a $40,000 recourse note. In the first year, the investor's di
kondaur [170]

Answer: The loss carried to the next year is $10,000

Explanation:

the initial investment = $10,000 contribution + $40,000 recourse note= $50,000 initial basis.

The income in the first year = $15,000

Therefore total sum basis = $50,000 initial investment + $15,000 income = $65,000

The cash distributed = $5,000

we deduct the cash distributed from the total sum basis

hence,

remaining basis = $65,000 - $5,000 = $60,000

since the loss = $70,000

therefore,

the remaining loss after the first year = $70,000 - $60,000 = $10,000

so $10,000 will be the unused loss carried to the next year.

4 0
3 years ago
Other questions:
  • Drag each label to the correct location on the table. Match the companies to their business categories.
    6·1 answer
  • Experience in the workplace builds a foundation for becoming an entrepreneur in all the following ways EXCEPT
    13·2 answers
  • The uses of Free cash flow include:_______. a. pay dividends.b. re-purchase stock.c. pay taxes.d. a. and b. only.
    6·1 answer
  • You are working closely with an experienced associate. He insists on completing a task a certain way, but you know there is a mo
    11·1 answer
  • Consider the market for minivans (Some would describe a minivan as a family car). Looking at the two statements, which one is tr
    10·1 answer
  • A manager in your organization just received a special order at a price that is "below cost." The manager points to the document
    10·1 answer
  • Estephanie, Yahaira, and Adamaris, all African Americans, worked in the advertising department of a large cosmetic company with
    14·1 answer
  • An investor has researched financial information for Fried Chicken Corporation over the past three years. He has provided you a
    9·1 answer
  • Windsor Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 5 years and requires eq
    5·1 answer
  • The type of appeal used to imply either directly or subtly that the product is more fun or exciting than competitors' offerings
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!