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SashulF [63]
3 years ago
15

If the cost of an item of inventory is $60, the current replacement cost is $65, and the selling price is $95, the amount includ

ed in inventory according to the lower of cost or market concept is:
Business
1 answer:
KATRIN_1 [288]3 years ago
5 0

Answer:

The amount included in the inventory is $60

Explanation:

Lower of cost and net realizable value determine the value of closing inventory based on the cost incurred to produce or purchase a inventory unit or Market value of the inventory unit which ever is lower. In this question cost of unit of inventory is $60 and the replacement cost which market value of the item of inventory. The unit cost of an item of inventory is lower as compared to the replacement value.

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What does it mean when an economist says that a consumer has demand for a good or service?
FrozenT [24]
Demand means the consumers want the product or service. If there is a demand, companies must supply. "supply and demand"
7 0
3 years ago
With an aim of a diagram, distinguish between the income effect and substitution effect of change in price of a normal good​
Nana76 [90]

Hello. You did not present a diagram to which the question refers. However, I will try to help you in the best possible way.

The income effect is the term related to the increase or decrease in the consumer's purchasing power in relation to the fluctuation in the price of consumer products and the value of the national currency. On the other hand, the substitution effect refers to the impact between the variation of the consumers' income value and the product's prices.

4 0
3 years ago
Environmental Designs issues 4,000 shares of its $1 par value common stock at $15 per share. (1) Record the issuance of the stoc
prisoha [69]

Answer:

1                        Cash                                            $60000

                            Common Stock                             $4000

                            Additional Paid in Capital            $56000

2                       Cash                                            $60000

                             Common Stock                            $60000  

Explanation:

When stock issue at Market value the cash generated above the par value will consider as Additional Paid in Capital while cash common stock no par value it will consider as share issued at market value when share issued at no par value.

8 0
3 years ago
List any THREEshopping skill that you will follow.
Viefleur [7K]
1. Comparing prices
2. Negotiating major purchases
3. Evaluating competing products
4. Separating quality from quantity when clothes shopping
5. Determining want versus need
6. Learning how to just say NO
7. Identifying the right times to buy things
8. Seeing the value in used goods
9. Avoiding shopping hungry OR emotional
10. Knowing your shopping triggers and staying away from them


There are 10 shopping skills that we can follow , you can choose any 3 from these and answer your question.
7 0
3 years ago
What is the approximate market value of a $1,000 corporate bond that pays 8 percent interest when comparable bonds are paying 8
Alex

Answer:

C. $1000

Explanation:

The computation of the approximate market value is shown below:

Current yield = Annual coupon payment ÷ market value

8% = ($1,000 × 8%) ÷ market value

8% = $80 ÷ market value

So, the market value is

= $80 ÷ 0.08

= $1,000

Hence, the approximate market value is $1,000

Therefore the correct option is c.

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0
3 years ago
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