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Sloan [31]
3 years ago
9

Data related to the inventories of Kimzey Medical Supply are presented below:

Business
1 answer:
DedPeter [7]3 years ago
3 0

Answer:

c. $155.

Explanation:

Kimzey Medical Supply's merchandise inventory:

                  Surgical equip.  Surgical supplies  Rehab equip.  Rehab  supplies

Selling price          $335              $195                   $415                    $240

Cost                       $245              $165                   $325                   $237

Replacement         $315              <u>$155</u>                    $310                    $233

cost

Net RV                   $275              $175                    $375                   $200

If we apply the lower of cost or market rule for determining the value of surgical equipment, its value would be: $155 because the replacement cost  (or market price) is lower than the historical cost or the net realizable value.

When we use the lower of cost or market rule, we should value our inventory at the lowest value between original purchase cost, replacement (or market) price or net realizable value.

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BigorU [14]

Answer:

The correct answer is Increase in accounts payable and unearned fees.

Explanation:

An account payable consists of a debt incurred by the company directly related to the economic activity of the company. An account payable is a debtor account in a company and indicates that it has to pay its suppliers (or other creditors).

The amounts that are accounted for as accounts payable come from the purchase of goods or services in terms of credit. So, accounts payable are similar to credits with the difference that banks are not involved.

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4 years ago
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Andrew [12]

Answer:

True

Explanation:

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3 0
3 years ago
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Answer:

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3 years ago
Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's abil
Lostsunrise [7]

Answer:

A

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It is the term that is basically used when we consider external outputs that can affect the way in which relationships are built with the customers of the company.

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3 years ago
Which industry is the second-largest employer of teens
olasank [31]

Answer:

I. Retail industry

ii. 7%

Explanation:

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Retailing involves buying goods either from the producers or wholesaler and selling them to the final consumers. Some services are also offered in these retailing such as call center representative, those who work in innovation lab. etc

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