Answer:
$43,030
Explanation:
IAS 2 Inventories states that inventory is to be recognized at cost, however, subsequent measurement requires that inventory be carried at the lower of cost or net realizable amount (NRV).
As such, where the cost of inventory is higher than the NRV, it is written down to the NRV using the following entries,
Debit Inventory write off/Cost of goods sold
Credit Inventory account
with the difference between the cost and the NRV.
Inventory Quantity Unit Cost Unit NRV New unit cost
Furniture 230 $88 $103 $88
Electronics 53 $430 $315 $315
From the analysis above, the cost of inventory is lower than the NRV for Furniture, hence no adjustment is required. However, the cost of Electronics is higher than the NRV hence a write down is required. This amount is
= ($430 - $315) × 53
=$115 × 53
= $6,095
Total recorded cost(ending) of inventory before any adjustment
= (230 × $88) + (53 × $430)
= $43,030
Answer:
b. an outward shift of the production possibilities curve along both axes
Explanation:
As we know that outward shift refers to the growth.
Baby boomers is a term used for the human generation born between 1946 and 1964 after the end of world war 2 when the birth rate across the world was narrowed and thereafter the emerging births of new infants were known as Baby Boom.
The main reasons of this outward shift were:
- People started new families to cover the life gap of the loved ones they lost during the world war
- People hoped that coming era will be of peace and business growth which they actually saw thereafter
- People hoped to see the economic growth in upcoming years leading them towards business expansions and production growths as well
Values play a central role in ethical decision making.It is because core values are so subjective, they will be relative to the individual who holds them. Not all individuals have the same core values and conflicts about them will often arise.
Answer:
China has the bigger economy than Australia
Explanation:
