Answer and Explanation:
The journal entries that are required to adjust merchandise inventory is given below:
Income Summary $121,000
To Inventory $121,000
(Being eliminate Beginning inventory balance is recorded)
Inventory $116,500
To Income Summary $116,500
(Being the cost of ending inventory is recorded)
These two entries should be recorded for adjusting merchandise inventory
The answer to this statement is True goods and services can be easily balanced and purchased at certain prices and if needed the prices will increase
Answer:
the value of the goods that were given up to produce the bicycle.
Explanation:
Opportunity cost is the cost of the next best option forgone when one option is chosen over other alternatives.
the opportunity cost of purchasing the bicycle is the value of other things that could have been bought instead of the bicycle
The strategy that they would be implementing is niche differentiation. Niche differentiation is a strategy which applies to the field of ecology and term has a meaning (synonymous with niche segregation, niche separation and niche partitioning), which refers to the process by the competing species that is use in the environment differently that helps them to coexist.
Answer:
Procurement
Explanation:
The process of "procurement" refers to purchasing the goods and services that will be used in the company's business. This gives the company the ability to choose where and from whom they will buy their supplies. This allows "fairness" and promotes<em> competition. </em>
The act of buying lumber and raw materials by the furniture manufacturer, including its machines, equipment, manufacturing supplies and office supplies belong to the process of procurement. Companies set their <u>own procurement policies</u> in order to ensure that<em> it aligns with the interest of the public.</em>
So, this explains the answer.