1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
________ refers to the impaired decision making that occurs in a team when making the right decision is less important than main
aleksandrvk [35]

Answer:

competition

Explanation:

team members be competing against each other

5 0
2 years ago
Which of the following types of funding for college requires repayment?
jek_recluse [69]

Answer: Loan

Explanation:

3 0
2 years ago
Read 2 more answers
The simple annual interest rate on a loan is 5%. what is the interest due on a loan of $3,500 after one year
zlopas [31]
The formula is
I=prt
I interest due ?
P principle 3500
R interest rate 0.05
T time 1 year
I=3,500×0.05×1
I=175
3 0
3 years ago
Read 2 more answers
What type of corporate speech can be fully regulated?
Stels [109]

Answer: The correct answer is "(A) Advertising".

Explanation: The publicity for its diffusion and consequences in front of third parties and legal regime is the type of corporate discourse that can be completely regulated with the aim of not causing damage to the rights of potential consumers.

8 0
3 years ago
Read 2 more answers
Lauren is an attorney. Like the conduct of all attorneys, Lauren’s conduct is governed by rules of professional conduct establis
GREYUIT [131]

Answer:

a. ​the American Bar Association.

Explanation:

-American Bar Association is an organization that is formed by law students and lawyers and it establishes codes of conduct for this profession. It created the Model Rules of Professional Conduct in 1983 and it is used in 49 states.

-American Institute of Certified Public Accountants is an organizaion formed by certified accountants in the United States and it determines ethical standards for the professionals.

-​The Securities and Exchange Commission is an agency of the United States government that develops and enforces laws for the securities industry.

-The International Accounting Standards Board is a body of the IFRS Foundation that establishes accounting standards.

According to this, the answer is that  Lauren’s conduct is governed by rules of professional conduct established by the state in which she is licensed, and the Model Rules of Professional Conduct of the American Bar Association.

8 0
3 years ago
Other questions:
  • All of the following components are commonly found in rental housing agreements EXCEPT:
    8·2 answers
  • You want to travel to Europe to visit relatives when you graduate from college three years from now. The trip is expected to cos
    11·1 answer
  • In microeconomics, what term refers to the measurement of responsiveness of the quantity demanded or the quantity supplied to a
    5·1 answer
  • A lender agrees to loan you 80% of the first $ 60,000 and 70% of the remainder of the purchase price of a home. The contract pri
    9·1 answer
  • The Balanced Scorecard is a useful tool for helping managers translate their strategy into action in the following areas:
    12·1 answer
  • On August 31, a hurricane destroyed a retail location of Carla Vista's Clothier including the entire inventory on hand at the lo
    7·1 answer
  • The Finishing Department had 6,800 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to ma
    9·1 answer
  • Review each of the following statements to determine which is correct regarding the importance of assessing a company's risk of
    10·1 answer
  • i made a bet with my friend that he couldnt swallow an egg full, hes laying on the ground now what do i do
    6·1 answer
  • Molly has a $2500 down payment saved for this purchase. Molly assumes the $1500 cash allowance will come straight off her total.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!