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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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A monopolist faces a demand curve given by: P = 220 – 3Q, where P is the price of the good and Q is the quantity demanded. The m
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Answer:

$1350

Explanation:

To find dead weight loss we will take into consideration the price and output level of both monopoly and perfect competition.

Dead weight loss = {(P2 - P1) * (Q1-Q2)} / 2

Where, P2 and Q2 are price and quantity respectively of monopolist and P1 and Q1 are price and quantity respectively of perfect competiton.

Dead weight loss = {(130-40) * (60-30)}/2

= (90*30)/2

= $1350

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3 years ago
Lisa’s pizza is trying to compete with the larger domino’s pizza down the street for customers. She feels she can deliver a bett
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Lisa's Pizza is trying to compete with the larger Domino's Pizza down the street for customers. Lisa here is trying to practice operations management.

More about operations management:

Operations management is a branch of management that focuses on planning, organising, and redesigning the production process for goods or services as well as business operations.

The management of business procedures to achieve the best level of productivity within an organisation is known as operations management (OM). In order to increase an organization's profit, it is concerned with transforming resources like labour and materials into products and services as effectively as feasible.

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Learn more about Operations management here:

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8 0
1 year ago
Randy is 60 years old and realizes that his reading speed and eyesight are not as robust as they were when he was younger. he st
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Randy now listens to the books on tape. randy is using Selective optimization with compensation  in order to participate in the book club.  It is<span> a strategy for improving health and well being in older adults, it is also a model for successful ageing. Seniors should select and optimize their best abilities and most intact functions while compensating for declines and losses.  </span>
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3 years ago
The following information was taken from a company’s bank reconciliation at the end of the year:
nekit [7.7K]

Answer:

The correct cash balance that should be reported in the company's balance sheet at the end of the year is $3,800

Explanation:

The computation of the correct cash balance is shown below:

= Bank balance + Deposits outstanding - Checks outstanding

= $8,100 + $4,100 - $8,400

= $3,800

The other items which are given in the question are related to the bank balance. So, we do not consider it in the computation part. It already adjusted to the bank balance. Hence, we ignored it.

4 0
3 years ago
Did economic output start growing faster than population from the beginning of the human inhabitation of the earth? When did mod
LekaFEV [45]

Explanation:

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3 years ago
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