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ehidna [41]
3 years ago
14

In 2018, the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method.

At December 31, 2017, B & B’s inventories were $33.2 million (FIFO). B & B’s records indicated that the inventories would have totaled $24.4 million at December 31, 2017, if determined on an average cost basis. Ignoring income taxes, what journal entry will B & B use to record the adjustment in 2018?

Business
1 answer:
Colt1911 [192]3 years ago
6 0

Answer

The answer and procedures of the exercise is attached in a image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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iVinArrow [24]

Answer:

Answer A is correct

Explanation:

Step 1 find how much Steve will have when he retires:

financial calculator steps

press g 7 (to set the calculator to assume payments are made at the beginning of the period)

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3 years ago
In a competitive market with identical firms, A. firms cannot earn positive economic profit in either the short run or long run.
Ksenya-84 [330]

Answer:

The answer is C.

Explanation:

In a competitive market, all firms produce identical goods and services. No firm or seller can influence the prevailing market price. To increase their revenue, firms must increase their outputs.

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Answer:

Target Marketing

Explanation:

Candy's Clothes is engaging in target marketing because it is tailoring its marketing strategy (and its products) to a specific, narrowly-defined group of people, which can be thought of as the firm's niche.

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pishuonlain [190]

Answer:

see below

Explanation:

A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.

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