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
Luda [366]
4 years ago
15

Waterway Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are availa

ble at December 31.
Item Units Unit Cost Market Value
Cameras:
Minolta 9 $170 $154
Canon 6 151 153
Light meters:
Vivitar 12 122 110
Kodak 20 120 135
Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.
Business
1 answer:
Ludmilka [50]4 years ago
5 0

Answer:

$6,012

Explanation:

The computation of the amount of ending inventory is shown below:

<u>Cameras          Unit               Cost         market value         LCM     Total value </u>

Minolta             9                    $170        $154                       $154     $1,386

Canon              6                    $151         $153                       $151     $906

Light meters

Vivitar              12                   $122        $110                       $110       $1,320

Kodak              20                   $120       $135                     $120        $2,400

Total                                                                                                     $6,012

The quantity should be multiplied by cost or market value whichever is lower

You might be interested in
Jove is a chocolate manufacturing company in Harrington City. While most of its competitors produce not more than three basic va
Lunna [17]

Answer:

<em>c. Sustainable Competitive Advantage</em>

Explanation:

<em>Sustainable competitive advantages</em> are business assets,  characteristics, or capabilities that are hard to replicate or achieve ;  and provide a long-term superiority or favorable role over competitors.

Types of Sustainable Competitive Advantage include:

  • <em>Reduced cost provider / Fair pricing </em>
  • <em>Market or Pricing Power </em>
  • <em>Strategic assets </em>
  • <em>Excellent management / employees </em>
6 0
3 years ago
How much is a 1941 wheat penny worth today??
bearhunter [10]
10,000-15,000 american dollars
7 0
3 years ago
Read 2 more answers
Austin's total fixed cost at the bakery is $3,600 a month. Austin employs 20 workers and pays each worker $8 an hour. The margin
USPshnik [31]

Answer:

$0.66

Explanation:

Marginal cost is the cost of producing one extra unit of a product.

if each worker is paid $8, then the marginal cost of producing the last cupcake = $8 / 12 = $0.66

4 0
3 years ago
In monopolistic competition firms gain some degree of market power
saw5 [17]
They gain some degree of power by means of differentiating  their products from those of other firms in the industry. Remember that a monopolistic competition is the one where many firms selling products that are similar but not identical which is very different from oligopoly and the one known as imperfect competition
7 0
3 years ago
Out of fears that the money supply is too large, the federal reserve has decided to decrease the money supply. how could the fed
Art [367]
<span>The money supply can be reduced by not continuing to print new bills. Banks could be asked not to distribute more than a set amount of money, thereby lessening the amount of money put into general circulation. Sellers could raise the price of their goods and services. When prices rise, people take a closer look at their goals and their disposable income. Cost of living usually results in more prudent spending, more savings, and less money in general circulation.</span>
7 0
4 years ago
Other questions:
  • Elena works in the audit department of a practice as an audit administrator. She assists the audit teams by recording and proces
    6·1 answer
  • If money is paid when a change of ownership in a life insurance policy takes place, this is generally known as a ____________.a.
    11·1 answer
  • Boulderado has come up with a new composite snowboard. Development will take Boulderado four years and cost $250,000 per year, w
    8·1 answer
  • S&amp;L Financial buys and sells securities which it classifies as available-for-sale. On December 27, 2021, S&amp;L purchased C
    13·1 answer
  • Lloyd and Jean are considering purchasing a home requiring a $75,000 mortgage. The payment on a 30-year mortgage for this amount
    9·1 answer
  • Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $552,500 Inventories: Beginning of y
    8·1 answer
  • What does the term scarcity mean as it relates to economics? A. Resources are used to produce the goods that constitute wants an
    9·1 answer
  • Labor and management at Leo Trucking cannot seem to agree upon a contract for the truck drivers. As each side contends that they
    12·1 answer
  • _______best tip of the waiter a.attitude b.gratitide c.money d.foods​
    9·2 answers
  • The LFH Corporation makes and sells a single product, Product T. Each unit of Product T requires 1.5 direct labor-hours at a rat
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!