Answer:
Insurance is the procedure by which persons or companies exposed to a specific risk agree with an institution specializing in compensation for damage that the institution will indemnify the damage caused when the risk materializes. The resulting contract is called insurance.
From a commercial point of view, insurance can be defined as the means by which the cost of incidental damage can be converted evenly into a continuous annual cost on an annual basis.
Answer:
D. Original cost.
Explanation:
As we know that the inventory should be valued at lower of cost or market value. Also , the market value is the middle amount among the replacement cost, net realizable value, net realizable value - normal profit margin
It can be the replacement cost or net realizable value. We don't have an idea which one is the middle amount
Also, if the original cost is less than the market cost so we assume that the inventory should be valued at original cost
Answer:
Ending inventory= $5,592.45
Explanation:
Giving the following information:
Mar. 1: Beginning inventory= 1,090 units at $7.25
Mar. 10: Purchase: 510 units at $7.75
Mar. 16: Purchase: 397 units at $8.35
Mar. 23: Purchase: 510 units at $9.05
First, we need to calculate the number of units in ending inventory:
Ending inventory in units= total units - units sold
Ending inventory in units= 2,507 - 1,880= 627
Under FIFO (first-in, first-out), the ending inventory is composed of the cost of the last units bought.
Ending inventory= 510*9.05 + 117*8.35= $5,592.45
One interest is simple the other is compound......
No you can not afford it
1600•0.25= 400
1600-400=1200
1200-1200=0