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FrozenT [24]
3 years ago
8

The envelope method, notebook and pencil, and online

Business
1 answer:
alexandr1967 [171]3 years ago
3 0

Answer:

Tracking your spending?

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​Simmons, Inc. uses the​ lower-of-cost-or-market method to value its inventory that is accounted for using the LIFO method. Data
MA_775_DIABLO [31]

Answer:

The lower- of- market- or cost for the item is $21

Explanation:

In the lower of cost or market, the market begins at the replacement cost which is $20, which is then limited or restricted to a ceiling and a floor.

The ceiling is computed as:

Ceiling = Selling price - Completion cost

where

selling price is $30

Completion cost is $2

Putting the values above:

Ceiling = $30 - $2

Ceiling = $28

Computing the floor as:

Floor = Ceiling - Normal profit margin

Floor = $28 - $7

Floor = $21

As the market cannot be lower than the floor which is $21. Therefore, the lower of cost which is $26 and the market which is $21. But have to take lower. So, it is $21.

6 0
3 years ago
You are planning to deposit $2,000 into an account at the end of year 1 and $3,000 at the end of year 2. If the account earns 4%
Mkey [24]

Answer:

The account balance by the end of year 3 will be : $5,283.2

Explanation:

You are planning to deposit $2,000 into an account at the end of year 1 and $3,000 at the end of year 2. The account earns 4% interest.

The account balance at the end of year 1 = $2,000

The account balance at the end of year 2 = $2,000 x (1+4%) + $3,000 = $2,080 + $3,000 = $5,080

The account balance at the end of year 3 = $5,080 x (1+4%) = $5,283.2

7 0
3 years ago
HURRY!! Sarah is working at a daycare center. She just thought of a way to streamline the way parents drop off and pick up their
tino4ka555 [31]

Answer:

Explanation:

Trust

6 0
2 years ago
Which of the following activities does NOT belong to the controlling phase of project​ management?
nignag [31]

Answer:

D. define the project

Explanation:

The project is defined in the initiation phase.

The Project Initiation Phase is the 1st phase in the Project Management Life Cycle, as it involves starting up a new project. You can start a new project by defining its objectives, scope, purpose and deliverables to be produced.

7 0
3 years ago
Kay and Jenny's, a restaurant, implements a new system that identifies and gathers information about its regular customers. It r
Agata [3.3K]

Answer:

Customer relationship management.

Explanation:

Customer relationship management is a way to deal with deal with a company's collaboration with present and potential customers. It uses information analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer maintenance and at last driving sales development.

5 0
2 years ago
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