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True [87]
3 years ago
6

The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Rea

lizable Value RSK-89013 550 $38 $44 LKW-91247 329 49 45 QEC-57429 462 25 33 Required: 1. Compute the carrying value of the ending inventory using the lower of cost or market method applied on an item-by-item basis. $ 2. Prepare the journal entry required to value the inventory at lower of cost or market. (Inventory adjustment to market value)

Business
1 answer:
valentina_108 [34]3 years ago
3 0

Answer:

1. $47,255

2. Dr Cost of goods sold account $1,316

Cr Inventory account $1,316

Explanation:

Please find attached detailed solution to the above questions and answers.

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During the Great Depression, factory production fell by almost half and about 25 percent of the nation's workforce was unemploye
Andre45 [30]

Answer: The Government increased their involvement in all economic activities.

Explanation: During the Great Depression, President Franklin D. Roosevelt instituted programs to restore the economy and improve social conditions.

The government’s role in America grew more than in any era before the great depression which includes creation of about twenty three new agencies, Social Security Act was passed and one in seven Americans received a Social Security benefit and more than 90 percent of all workers are in jobs covered by Social Security.

The congress passed the Agricultural Adjustment Act (AAA) to provide economic relief to farmers and the creation of a civil works administration which was a work relief program that gave jobs to many unemployed people.

The programs and institutions that were created above prove to be invaluable to the success and growth of the most powerful nation in the world.

6 0
3 years ago
According to the OOH, what are some educational, training, certification, or licensing options required or helpful for Chefs? Ch
Serga [27]

The correct answer is:

A) medical school

C) internship and residency program

D) license

Explanation:

I tried his/her answer and it wasn't right. And I got this answer right.

5 0
3 years ago
Read 2 more answers
A 13-year bond of a firm in severe financial distress has a coupon rate of 10% and sells for $930. The firm is currently renegot
adoni [48]

Answer:

Stated yield is 11.04%

expected yield is  5.78%

Explanation:

The expected yield to maturity can be computed using the rate formula in excel which is given below:

=rate(nper,pmt,-pv,fv)

nper is the number of coupon interest the bond would pay which is 13

pmt is the amount of coupon interest the bond pays which is $1000*10%=$100

pv is the current price of the bond which is $930

fv is the face value of $1000

=rate(13,100,-930,1000)=11.04%

However the expected yield has the coupon interest reduced to one -half as calculated below:

=rate(13,100*0.5,-930,1000)=5.78%

3 0
3 years ago
Arm & Hammer launches a campaign to extend the life of its baking soda products through improved packaging and new uses in p
lbvjy [14]

Answer:

C) maturity

Explanation:

The four stages of the product life cycle are:

  1. Introduction Stage
  2. Growth Stage
  3. Maturity Stage: at this stage the product is already well established and its sales growth rate slows down. The highest sales level are achieved at this stage. This is also the stage at which the product faces the most competition, so the companies must modify and improve their products.
  4. Decline Stage
7 0
3 years ago
A company reports the following: Income before income tax $387,520 Interest expense 69,200 Determine the times interest earned.
katen-ka-za [31]

Answer:

6.6

Explanation:

The formula and the computation of the times interest earned is shown below:

Times earned interest = (Earnings before income tax and interest expense) ÷ (Interest expense)

where,

Earnings before income tax and interest expense is

= $387,520 + $69,200

= $456720

And, the interest expense is $69,200

So, the times interest earned ratio is

= $456,720 ÷ $69,200

= 6.6

8 0
3 years ago
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