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lorasvet [3.4K]
3 years ago
9

Rome Inc. owns 30% of Amber Co. and applies the equity method. During the current year, Rome bought inventory costing $66,000 an

d then sold it to Amber for $120,000. At year-end, only $24,000 of merchandise was still being held by Amber. What amount of intercompany inventory profit must be deferred by Rome
Business
1 answer:
stealth61 [152]3 years ago
3 0

Answer:

Amount of intercompany inventory profit must be deferred by Rome=$3240

Explanation:

Inventory at year-end $ 24,000.00

Gross profit markup ($54,000 ÷ $120,000) × 0.45

Unrealized gain $ 10,800

Ownership share × 0.30

Intercompany unrealized gain — deferred $ 3,240

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Answer:

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4 0
3 years ago
What factors are used in the rule-of-thumb methods to determine the communication budget?.
kvv77 [185]

The factors that are used in the rule-of-thumb methods to determine the communication budget is "Prior sales and communication activities".

<h3>What is rule-of-thumb method?</h3>

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Some characteristics of rule-of-thumb are-

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3 0
2 years ago
What are three skills you are likely to need as an entrepreneur?
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5 0
3 years ago
Read 2 more answers
Diminishing marginal product suggests that the marginal A. cost of an extra worker is unchanged. B. cost of an extra worker is l
MArishka [77]

Answer:

The correct answer is letter "D": product of an extra worker is less than the previous worker's marginal product.

Explanation:

The Law of Diminishing Marginal Productivity indicates that increasing one variable while holding others the same can initially increase output but eventually adding more of that variable results in lower return rates. This law helps explain that it is not always the best way to increase income by increasing production.

<em>Initially, companies recruiting additional workers would boost production until too few machines or not enough space is sufficient to accommodate everyone. Then, the production rate will decrease.</em>

7 0
3 years ago
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands).
creativ13 [48]

Answer:

A. $1,517,648 thousand

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= Cost of goods sold under LIFO - (Ending LIFO reserves - Beginning LIFO reserves)

= $1,517,397 - ($4,345 - $4,094)

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