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Nikolay [14]
3 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]3 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.

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Alona [7]

Answer:

forgo interest = $30

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Explanation:

given data

annual interest = 2%

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how much interest would she forgo and how much will she pay in interest

solution

first we get here Forgo interest that is here

forgo interest = withdrawal amount × interest rate ..........................1

put here value we get

forgo interest = $1500 × 2%

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and

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interest = amount borrow × interest rate ..........................2

put here value we get

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7 0
3 years ago
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Answer:

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$50,000 - $12,000 - $1,000 - $3,000 - $35,000 = -$1,000

4 0
3 years ago
What kind of inhibitor is a transition state analog usually classified as?
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