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fredd [130]
3 years ago
13

Which of the following measures the relationship between cost of merchandise sold and the amount of inventory carried during the

period? a.inventory turnover b.fixed asset turnover c.retail method of inventory costing d.gross profit method of inventory costing
Business
1 answer:
Vedmedyk [2.9K]3 years ago
6 0

Answer:

The correct answer is A

Explanation:

Inventory turnover is the ratio which shows or states that how many times, the company has sold or replaced the inventory during a stated year or period. This ratio is stated as a formula which is to divide the number of days in the year with the formula of inventory turnover in order to compute the days it will take for selling the inventory.

So, this is the one which tells the relationship among the cost of the merchandise sold and the amount of the inventory which is carried during the year.

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The U.S. GAAP lower of cost or market rule for inventories may be applied to total inventory, to groups of similar items, or to
Aliun [14]

The inventory has to be recorded separately to each item and this will generally result in the lowest inventory amount.

<u>Explanation:</u>

LCM- the Lower of Cost which is also called as Market rule is the theory for valuating the inventory in accounting. According to the LCM rule, in a business the cost of inventory must be recorded at lower cost (it can be either the current market price or the original cost)

Reason for recording at lower cost:

Aggregating the items results in the incorporation of some items at amounts greater than LCM.

Example:

If product X (cost = 2 dollars, market = 1 dollar) and product Y (cost = 3 dollars, market = 4 dollars) are aggregated for LCM, the inventory measurement will be 5 dollars. If the rule is applied separately to both the products, the LCM measurement will be 4 dollars.

8 0
3 years ago
Status
Allushta [10]

Answer:

A

Explanation:

cash and raw materials

3 0
3 years ago
Heartsong LLC is a designer and manufacturer of replacement heart valves based in Peoria, Illinois. While it is a relatively sma
zhannawk [14.2K]

Answer:

Explanation:

Competitive advantages are those factor that put a manufacturer in a better position over rivals in the market and gives her the benefit of higher pricing and brand loyalty.

In this scenario , the competitive advantage that Heartsong has in the industry is her world wide reputation as a provider of choice for high-quality leading -edge artificial heart valves.

However, she has fund limitation to enhance research and development , larger production and maintain additional inventory as demanded by the market . The sales on account pattern as vendors are not paid immediately and short lead time for ordering due to the nature of the heart valve was not helping the situation.

The outsourcing arrangement to Edfex will ease the stress on delivery as it has hightech warehouses in most major population centers around the country. The focus will now be on research and development and increased production capacity.

4 0
3 years ago
Q#1. How would you describe the word “CAREER” Explain in 5-7 sentences.
DochEvi [55]
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5 0
3 years ago
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Which is the penultimate step in the planning process?
Studentka2010 [4]
Hello, The first step of financial planning process is to define specific goals. Since this is the first step I figured it is the most important.
Hope this helps..
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