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DochEvi [55]
3 years ago
11

Better Buy, Inc. has 7 units in inventory on December 31. The units were purchased in November for $160 each. The price lists fr

om the suppliers indicate that the same items would now cost the company a total of $1,155. What would be the amount reported as Ending Merchandise Inventory on the balance sheet?
Business
1 answer:
ki77a [65]3 years ago
3 0

Answer:

$1,120

Explanation:

Ending Merchandise Inventory is value of closing inventory in hand, to be valued at lower of cost or net realizable value or replacement value

Here, cost of closing inventory = 7 units X $160 each = $1,120

Since current realizable/ replacement value = $1,155

Cost is less than realizable value, therefore cost will be considered.

Thus ending merchandise inventory will be valued at total of $1,120.

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The following budget information is available for the Arch Company for January Year 2: Sales $ 860,000 Cost of goods sold 540,00
igomit [66]

Answer and Explanation:

The computation of the total budgeted selling and administrative expenses is shown below;

Utilities expense $2,800

Administrative salaries $100,000

Sales commissions 5 % of sales i.e. 5% of $860,000  $43,000

Advertising $20,000

Depreciation on store equipment $50,000

Rent on administration building $60,000

Miscellaneous administrative expenses $10,000

total budgeted selling and administrative expenses $285,800

3 0
3 years ago
What should i do when starting a business? (At least one paragraph)
cestrela7 [59]

Answer:

Uhm uhm uhm

Explanation:

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2 years ago
Please help branliest to correct answer no guessing please
timofeeve [1]

Answer:

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Explanation:

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4 0
3 years ago
Indicate which of the four perspectives in the balanced scorecard is most likely associated with the objectives that follow.
Musya8 [376]

Answer:

Note: The complete question is attached as picture below

Objectives                                         Most associated balanced scorecard

1. Percentage of repeat                    <em>Customer Perspective</em>

customers

2. Number of suggestions for          <em>Learning and Growth perspective</em>

improvement from employees

3. Contribution margin                      <em>Financial perspective</em>

4. Brand recognition                         <em>Customer Perspective</em>

5. Number of cross-trained              <em>Learning and Growth perspective</em>

employees

6. Amount of setup time                   <em>Internal process prospective</em>

6 0
2 years ago
Shane is looking for ways to get more capital for his appliance sales and service business. he is very protective of his company
Nitella [24]
<span>Shane, who is interested in new ways to get more capital for his business that sells and services appliances, is highly protective of his company's information and often worries that it may fall into the wrong hands. With this state of mind, Shane is likely not interested in incorporating his money</span>
6 0
3 years ago
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