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
olga2289 [7]
3 years ago
13

Which of the following is a true statement about inventory systems?A)Periodic inventory systems require more detailed inventory

records.B)Perpetual inventory systems require more detailed inventory records.C)A periodic system requires cost of goods sold be determined after each sale.D)A perpetual system determines cost of goods sold only at the end of the accounting period.
Business
1 answer:
balu736 [363]3 years ago
7 0

Answer:

B)Perpetual inventory systems require more detailed inventory records.

Explanation:

Under the <em><u>Perpetual inventory system</u></em>, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.

Many times it varies because different units in inventory were purchased at different prices and times. <em>Inflation </em>might be a factor the prices changes too.

However, in the <u><em>Periodic inventory system</em></u>, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the <em>Inventory</em> account at the end of the year to know COGS.

You might be interested in
3) Frito-Lay's gathers daily sales data and sorts it by product line and by region. The marketingmanagers use the data to evalua
Tasya [4]

Answer:

The correct answer is: D. Marketing information system.

Explanation:

Modern marketing requires more dynamic and intelligent information systems every day. The real-time information for decision making every day becomes more relevant. Focusing marketing strategies on the knowledge of customers and markets, requires having antennas placed on the market and multi-source data collection systems that allow anticipating market trends and thus making smarter decisions. Technology, Big Data and artificial intelligence are changing the rules of the Information Systems game.

The Marketing Information System and the digitalization of processes go hand in hand, allowing companies to use technology as a tool for making timely decisions for the market.

8 0
3 years ago
Question ObjectivesTest side bar expand button Q 3.2: According to the historical cost principle, if an asset costs $50,000 when
harkovskaia [24]

Answer:

A.

Explanation:

The cost principle means that in accounting, any transaction is recorded at the historical purchase price.

A fair value is the amount at which an asset could be exchanged in an arm´s length transaction between knowledgeable and willing parties.

Revaluation of fixed assets is not allowed for GAAP.

An appreciated value is an increase in the value of an asset over time.

A market value is the price at which a product or service could be sold in a competitive, open market.

3 0
3 years ago
Copper Corporation, a calendar year C corporation, owns stock in Bronze Corporation and has net operating income of $900,000 for
UNO [17]

Answer: $150,000

Explanation:

The Dividend Received Deduction is a Federal tax deduction that applies when a related company pays dividends to another company that owns part of it.

The relevant provision is that when a company owns more than 80% of the company receiving the Dividend, the Dividend Received Deduction amounts to 100% of dividends received.

Cooper Corporation may therefore claim a deduction of $150,000 being the total amount as they own 85% of Broze Corporation Stock.

7 0
2 years ago
Read 2 more answers
Inventory records for Dunbar Incorporated revealed the following: DateTransactionNumber of UnitsUnit Cost Apr.1Beginning invento
Jet001 [13]

Answer:

$965

Explanation:

Calculation to determine what Ending inventory assuming weighted-average cost would be:

First step is calculate the Weighted-average cost

Weighted-average cost = [(480 x $2.48) + (440 x $2.75)] / (480+440)

Weighted-average cost =1,190.4+1210/920

Weighted-average cost = 2400.4/920

Weighted-average cost =2.6091

Now let determine the Ending inventory

Ending inventory = (920-550) x 2.6091

Ending inventory = 370x 2.6091

Ending inventory =$965

Therefore Ending inventory assuming weighted-average cost would be $965

7 0
3 years ago
Blossom, Inc. acquired 20% of Nash Corporation's voting stock on January 1, 2021 for $870000. During 2021, Nash earned $361000 a
alexira [117]

Answer:

$72,200

Explanation:

For computing the amount included in the income statement as an investment we need to applied the equity method which is shown below:

= Earned amount × given percentage

= $361,000 × 20%

= $72,200

We simply multiply the earned amount by Nash with the acquiring percentage i.e 20% so that the amount could come and the same is to be included in the income statement

6 0
2 years ago
Other questions:
  • (1 pt.) Bell, Inc. buys 1,000 computer game CDs from a distributor who is discontinuing those games. The purchase price for the
    14·1 answer
  • The basketball season is about to start, and the owners of the Red Lions team want to advertise that fact in their home metropol
    12·1 answer
  • Suppose that Norway is a small country and currently produces 100,000 board feet of lumber at $600 per 1,000 board feet. Then it
    15·1 answer
  • What's the difference between gross monthly income, and net monthly income? I'm filling out a loan application, and the applicat
    15·1 answer
  • Indigo Company issues 11,300 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value o
    10·1 answer
  • Multiple Choice Question 115 Sunland Company sells MP3 players for $50 each. Variable costs are $40 per unit, and fixed costs to
    5·1 answer
  • Which of the following statements is true? a.The cost of goods sold budget is prepared before the direct labor and overhead budg
    10·1 answer
  • A(n)________ Answer assessment is periodically assessing the risk to organizational operations, organizational assets, and indiv
    13·1 answer
  • (a) Purchased $110 of supplies for cash. –$110 $0 (b) Recorded an adjusting entry to record use of $20 of the above supplies. en
    14·1 answer
  • When talking about saving money, Anthony ONeal says, "Start paying yourself and
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!