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Nikolay [14]
4 years ago
11

Taylor Music Center has 5 CD players on hand at the balance sheet date. Each costs $400. The current replacement cost is $380 pe

r unit. Under the lower-of-cost-or-market basis of accounting for inventories, what value should be reported for the CD players on the balance sheet?
Business
1 answer:
babymother [125]4 years ago
8 0

The correct answer is $380 per unit.

The lower-of-cost-or market rule requires that you report the lower value of either the purchase price or current market price of items in inventory. In this case the current market price is lower, so it should be used when calculating the value of inventory.

You might be interested in
The demand curve: shows how much buyers are willing and able to buy at different prices. is the amount that sellers are willing
Fynjy0 [20]

Answer:

shows how much buyers are willing and able to buy at different prices

Explanation:

A demand curve is a graphical representation of the law of demand. The curve demonstrates the relationships between the demand for a product and its price. A demand curve slopes downwards. It shows how the quantity demanded varies with changes in prices.

As per the laws of demand,  there is an indirect relationship between price and quantity demand. A rise in demand causes a decline in demand. On the demand curve, the Y-axis has prices, while the X-axis shows quantity. As the demand curve is downward sloping, changes in price cause movement along the demand curve. High prices will lead to low demand. The demand curve shows the level of quantity demanded at different prices.

6 0
3 years ago
A flexible-budget variance is $800 favorable for unit-related costs. This indicates that costs were: _____________
Galina-37 [17]

Answer: $800 less than standard for the achieved level of activity

Explanation:

A flexible budget variance refers to the difference that occurs between the results that are gotten by a flexible budget model and the actual results gotten.

Since the flexible-budget variance is $800 favorable for unit-related costs, this indicates that costs were $800 less than standard for the achieved level of activity.

Therefore, the correct option is D.

6 0
3 years ago
SOMEONE PLEASE HELP ME ASAP PLEASE!!!!!
3241004551 [841]
<h2>answer </h2>

A

<h2>explanation</h2>

as interest rates decreases, people have less disposable income to spend therefore they will demand less and aggregate demand will shift to the left.

7 0
3 years ago
Trying to get a loan from a bank is time consuming and invades the privacy of your personal credit history; thus, you'd be bette
cupoosta [38]

Answer:

The options for the question are:

True

False

And the answer is:

False

Explanation:

Options outside of banking institutions tend to be attractive because they usually do not require a scan of the borrower's credit history, however, they are also riskier options because they frequently charge higher interest rates.

It's always best to go to a trustworthy financial institution when in need for a loan, even it a credit history study is required. This actually should be seen as positive because both the bank and the borrower make sure that the credit is not too risky before approving it.

5 0
3 years ago
Mel prints 1200 leaflets to advertise her new business.
evablogger [386]

Answer:

$0.25

Explanation:

The cost of 1200 leaflets is $250 plus 20% VAT

the  VAT charges is

=20% of $250

=20/100 x 250

=0.2 x 250

=$50

The total cost of 1200 leaflets

= $250 + $50

=$300

1200 leaflets cost , $300

one leaflet will cost

=$300/$1200

=$0.25

6 0
3 years ago
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