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katrin [286]
3 years ago
5

Item 1 5 units Cost $50 Market $45 Item 2 7 units Cost $60 Market $65 Item 3 9 units Cost $30 Market $25 Applying the lower of c

ost or market method, the reported value of this company's ending inventory if LCM is applied to individual items is _____. $870 $905 $920 $940
Business
1 answer:
Alexeev081 [22]3 years ago
7 0

Answer:

The answer is A. $870

Explanation:

The lower-of-cost-or-market (LCM) method measures closing or ending inventory at the lower of its cost(historical cost) or its current market cost(replacement cost). This situation arises when inventory has deteriorated, or has become obsolete, or market prices have gone down.

Item 1...... 5 units x $45 = $225

Item 2..... 7 units x $60 = $420

Item 3..... 9 units x $25 = $225

Total......................................$870

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Answer:Definition: What are stocks? Stocks are securities that represent an ownership share in a company. For companies, issuing stock is a way to raise money to grow and invest in their business. ... When you own stock in a company, you are called a shareholder because you share in the company's profits.

Explanation:

4 0
3 years ago
How many different ways are there to buy 8 fruits when the choices are apples, pears, and oranges?
Nadya [2.5K]

The total different ways are 65536.

How many ways can you buy 8 fruit?

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8 0
1 year ago
A company has net working capital of $0, current liabilities of $25 and total assets equal to $100. What is its current ratio?
kap26 [50]
I believe the answer is B) 1.0
6 0
4 years ago
Which of the following examples should make a consumer leary to purchase from a business?
Mashutka [201]

Answer:

A. Limited information about the establishment on the company’s website.

Explanation:

A business is promising if they have complete information on their website. The credibility is made sure if the company has proper information that instigates trust among the consumer. The consumer can trust the company if they can reach it easily after the purchase and if the company has proper setup, both physical and virtual.

Therefore the correct answer is option A. Limited information about the establishment on the company’s website.

4 0
3 years ago
The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa
Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0
3 years ago
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