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Bas_tet [7]
3 years ago
5

At year end, CurlZ, Inc.'s inventory consists of 370 bottles of CleanZ at $3 per bottle and 270 boxes of DyeZ at $10 per box. Ma

rket values are $3.20 per bottle for CleanZ and $8 per box for DyeZ. CurlZ should report its inventory at ________
Business
1 answer:
laiz [17]3 years ago
3 0

Answer:

Curlz should report his inventory at a Total value of $3,270

Explanation:

In reporting inventory, the market values are only used when the price of a particular commodity or product falls below the purchase value.The inventory will therefor register a loss if the price falls. However, when the market value rises above the purchase value, we use the purchase value in our inventory since the rules of accounting do not allow for anticipated profits: they can only be reported once the sale is made and the market value at that point in time is higher than the purchase value.

The inventory will include;

Initial values;

Number of bottles of Clean Z=370 bottles

Price per bottle of clean Z=$3

Number of boxes of Dye Z=270 boxes

Price per Dye Z=$10

Market values;

Price per bottle of clean Z=$3.20

Price per box of Dye Z=$8

Inventory report;

Since market value of clean Z ($3.20)is greater than its initial value ($3), then in our inventory we will use the lesser value=$3 per bottle for 370 bottles.

Additionally, since market value of dye Z ($8) is lesser than its initial value ($10), then in our inventory we will use the lesser value=$8 per box for 270 boxes

The total value of the inventory will be;

Total value=(Number of bottles of Clean Z×price per bottle of clean Z)+(Number of boxes of Dye Z×price per Dye Z)

where;

Number of bottles of Clean Z=370 bottles

price per bottle of clean Z=$3

Number of boxes of Dye Z=270 boxes

price per box of Dye Z=$8

replacing;

Total value=(370×3)+(270×8)=$3,270

Total value=$3,270

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Marina CMI [18]

Answer:

$87,650

Explanation:

The computation of the dollar amount of returns and allowances  is shown below:

= Gross sales for store B × customer returns and allowances percentage

= $876,500 × 10%

= $87,650

By multiplying the gross sales with the customer returns and allowances percentage we can get the dollar amount with respect to the returns and allowances and the same is to be considered

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forsale [732]

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3 0
3 years ago
When Galaxy Ventures, a real estate company, entered the low-cost housing business, the market was already saturated with other
GenaCL600 [577]

Answer:

The answer is Late-mover disadvantages

Explanation:

A late mover is a company that enters a business some time after the business pioneers and early followers.

From the question above, Galaxy Ventures is a late mover in the low-cost housing business. They were at a huge disadvantage, and this includes:

  • First of all, lack of customer loyalty and substantial dividends (from the question).
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A reference group acts as a point of comparison and as a source of information for an individual.
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Answer:

True

Explanation:

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