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NeX [460]
3 years ago
13

Peete Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should

be included or excluded from the inventory taking.
a. 900 units of inventory shipped on consignment by Peete to another company.
b. 3,000 units of inventory in transit from a supplier shipped FOB destination.
c. 1,200 units of inventory sold but being held for customer pickup.
d. 500 units of inventory held on consignment from another company.
Business
1 answer:
larisa86 [58]3 years ago
7 0

Answer:

a. 900 units of inventory shipped on consignment by Peete to another company.

  • INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO PEETE COMPANY

b. 3,000 units of inventory in transit from a supplier shipped FOB destination.

  • NOT INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO THE SELLER (FOB DESTINATION)

c. 1,200 units of inventory sold but being held for customer pickup.

  • NOT INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO THE CUSTOMER

d. 500 units of inventory held on consignment from another company.

  • NOT INCLUDED IN THE INVENTORY SINCE THE MERCHANDISE BELONGS TO THE CONSIGNOR

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EastWind [94]

Answer:

The correct answer is b. chain of command

Explanation:

A chain of command is a system of sending information characteristic of organizations with strong, vertical and authoritarian hierarchical structures, such as political-party and military organizations, where orders, rewards and penalties flow from the tip of the pyramid organizational to the base, and where it is expected that only the required information, entrusted activities and tasks flow to the top of it.

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3 years ago
Gore Global is considering the two mutually exclusive projects below. The cash flows from the projects are summarized below.
coldgirl [10]

Answer:

D

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

Flying Car

Cash flow in year 0 = -$200,000

Cash flow in year 1 = 50,000

Cash flow in year 2 = 50,000

Cash flow in year 3 =80,000

Cash flow in year 4 =100,000

IRR = 13%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

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3 years ago
To promote economic growth countries would most likely act so that inflation
kipiarov [429]
To promote economic growth, countries would most likely act so that inflation : Remain at low level.

High inflation could potentially rise the average prices of the products within the country. In order to grow, people have to able to sustain a strong financial condition, so a condition where average prices is low is far more favourable.

hope this helps
4 0
3 years ago
The most effective long-range solution to a situation where a foreign government is demanding local participation in a multinati
pentagon [3]

The most effective long-range solution to a situation where a foreign government is demanding local participation in a multinational corporation's business activities in the host country is planned domestication.

Any company that is registered and conducts business in more than one nation at once is referred to as a multinational corporation (MNC), sometimes known as a transnational corporation. The corporation typically operates totally or partially owned subsidiaries in other nations while having its headquarters in one particular nation.

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4 0
1 year ago
Nu Company reported the following pretax data for its first year of operations. Net sales 2,950 Cost of goods available for sale
melomori [17]

Answer:

NU company.

The reason LIFO and FIFO present 2 different valuation of inventory is because of the way inventory is expensed in either methods.

LIFO stands for Last in First out. Meaning the last stock to be received should be the first to be issued to production.

If it thus shows that our costs of inventory has been increasing over the period, the inventory expensed to cost of sales will be high while the inventory balance in the balance sheet low. And the reverse if the costs of new inventory purchases have been declining.

FIFO stands for First in First out. Meaning the first inventories receives must be exhausted before we move to the receipt after that, and on and on.

If it thus shows that our costs of inventory has been increasing over the period, the inventory expensed to cost of sales will be low while the inventory balance in the balance sheet high. And the reverse if the costs of new inventory purchases have been declining

Nu company Gross Profit

Net sales $2,950

Less costs of sales:

Cost of goods available for sale 2,350

Less inventory closing 920

Costs of sales 1,430

Gross profit $1,520

Gross Profit % = $1,520 / $2,950

= 52% (c)

3 0
3 years ago
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