Answer:
$200 (a deduction)
Explanation:
The accounting standard for inventories IAS 2 requires that inventory be carried at the lower of cost or net realizable value. Inventory will initially be recognized at the cost ( which includes the cost of the item and other associated cost such as freight ). However, its carrying amount must be reviewed to ensure it is not higher than the realizable value.
Given that the selling price is now $15 which is lower than the cost of $16, it means that the amount that can be realized from the sale of a unit is $15.
= $16 - $15
= $1
As such, an adjustment in form of a reduction of the carrying amount of $1 per unit is required. The amount of the lower cost of market adjustment the company must make as a result of this decline in value
= $1 × 200 units
= $200 (a deduction)
Answer:
Game testing
Explanation:
My answer is obvious with the explanation ^^^
Answer:
The inventory turnover ratio is 3.58 times
Explanation:
Inventory turnover ratio an efficiency ratio that indicates how many times a company sells and replaces its stock of goods during a particular period
Inventory turnover ratio is calculated by using following formula:
Inventory turnover ratio = Cost of Goods Sold/Average Inventory
In there:
Average Inventory = (Beginning inventory + Ending inventory)/2
In the company:
Average Inventory = ($53,000 + $43,000)/2 = $48,000
Inventory turnover = $172,000/$48,000 = 3.58 times
For many in the baby boom generation, ......................................... represents a FLASHBULB MEMORY, an .......................... event.
A flash bulb memory refers to a detailed and vivid memory which is stored on one occasion and is retained for a life time. Such memory are usually related to important autobiographical events or other types of memories that are unforgettable.
Answer:
real GDP will remain the same and price level will increase
Explanation:
