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morpeh [17]
3 years ago
8

Gato Inc. had the following inventory situations to consider at January 31, its year-end. Identify which of the following items

should be included in inventory. (a) Goods held on consignment for Steele Corp. since December 12. select an option (b) Goods shipped on consignment to Logan Holdings Inc. on January 5. select an option (c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit
Business
1 answer:
OverLord2011 [107]3 years ago
4 0

Answer:

(b) Goods shipped on consignment to Logan Holdings Inc. on January 5.

(c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit.

Explanation:

Gato Inc. should include two items in its inventory. Good shipped on consignment to Logan Holdings Inc. should be included in inventory because this is transaction after the closing of December period. Goods shipped tp a customer on January 29 must also be included in the inventory because the goods are still in transit.

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The covenant is against encumbrances.

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A claim made against a piece of property by someone who isn't the owner is called an encumbrance.

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1 year ago
Firms in which market structure hold the most market power? monopolistic competition monopoly oligopoly perfect competition
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5 0
3 years ago
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Dean Brothers Inc. recently reported net income of $1,500,000. The company has 300,000 shares of common stock. The stock current
vladimir1956 [14]

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$75

Explanation:

The formula to compute the price -earning ratio is shown below:

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3 years ago
Genex Dynamics is a ballistics company that uses the unity of command, scalar chain, and division of work principles. These are
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a. Administrative principles approach

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According to my research on different management philosophies, I can say that based on the information provided within the question these are part of the management philosophy known as the Administrative principles approach. This is a theory that looks for a way to realistically design and form an organizational structure as a whole single entity.

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Which of the following is an example of the planning function of the budgeting​ process? A. Budget figures are used to evaluate
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The correct answer is letter "C": The budget outlines a specific course of action for the coming period.

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