1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
a_sh-v [17]
3 years ago
5

​Kim's Retail had 800 units of inventory on hand at the end of the year. These were recorded at a cost of $ 13 each using the la

stminus​in, firstminusout ​(LIFO) method. The current replacement cost is $ 9 per unit. The selling price charged by​ Kim's Retail for each finished product is $ 15. In order to record the adjusting entry needed under the lowerminusofminuscostminusorminusmarket ​rule, the Merchandise Inventory will be​ ________.
Business
1 answer:
nataly862011 [7]3 years ago
5 0

Answer:

the Merchandise Inventory will be credited by $3200

Explanation:

given data

Retail  inventory = 800 units

recorded cost = $13

replacement cost = $ 9 per unit

selling price charged = $15

to find out

the Merchandise Inventory will be

solution

we know here market  is equal to current replacement cost that is $9

and here we can say

market is here less than cost

so inventory will be valued at Market

so we find

down in inventory is = 800 × ( 13 - 9 )

down in inventory is = 3200

so the Merchandise Inventory will be credited by $3200

You might be interested in
Tara incorporates her sole proprietorship, transferring it to newly formed Black Corporation. The assets transferred have an adj
alukav5142 [94]

Answer:

Black Corporation

e. None of the above.

Explanation:

a) Data and Calculations:

Adjusted basis of assets = $290,000

Fair market value of assets = $300,000

Liabilities transferred = $50,000

Black Corporation's basis = $250,000 ( $300,000 - $50,000)

Tara's basis in the Black Corporation = $240,000

b) According to U.S. Code 351, no gain or loss shall be recognized for Tara if property is transferred to Black Corporation by Tara solely in exchange for stock in Black Corporation, and immediately after the exchange, Tara comes into the control of Black Corporation.

3 0
2 years ago
Ursula has a high tolerance for ambiguity but focuses on technical aspects more than social aspects. She is a careful decision m
Serga [27]

Answer:

Analytical

Explanation:

3 0
3 years ago
Assume that the linear equation for consumption in a closed economy is C = 40 + 0.8Y. Also, assume that income (Y) is RM400 mill
Gekata [30.6K]

A) the marginal propensity to save is the number associated with y which is 0.8

B) the marginal propensity to save is 1-0.8 = 0.2

C) replace y with the 400 and solve: c = 40 + 0.8(400) = $360

D) Average propensity to consume = 360/400 = 0.9

E) 400-360 = $40

F) 40/400 = 0.1

7 0
3 years ago
Read 2 more answers
Which of the following is not a good example of a marketing-related key success factor?
igomit [66]

Answer: A. a well-known and well-respected brand name

Explanation:

Good examples of a marketing-related key success factor include breadth of product line and product selection, proven ability to improve production processes, clever advertising and courteous, personalized customer service.

Therefore, a well-known and well-respected brand name is not among the options for Marketing related success factors.

4 0
3 years ago
Consider the supply and demand schedules for calzones at a local pizzeria. Use the information in the schedules to answer the fi
podryga [215]

Answer:

10 dollars

Explanation:

First of all you have to arrange the values properly so that the prices would correspond with the quantity demanded or supplied.

After arranging, I found the equilibrium price to be 10 dollars, here we can see that the price of the quantity of goods supplied is the same as the price quantity of goods demanded. The number of goods that were demanded and supplied at this price, 10 dollars is 80 units

8 0
3 years ago
Other questions:
  • How much would Vincent have in his account after three years if he started with $100 and earns 5% compounding annually?
    14·1 answer
  • An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labor to produce its total output of 640 un
    12·1 answer
  • The markets for movie theater tickets and video cassette rentals are highly interdependent. Suppose that a tax is imposed on mov
    13·1 answer
  • Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter this market, because there are not enou
    11·1 answer
  • Which of the following pieces of information is needed to compute flow time at a dentist's office?
    11·1 answer
  • Your company is experiencing difficult times and must lay off 52 workers, many of whom have been with the company for a number o
    12·1 answer
  • 1. Identify and briefly discuss three factors which influence the choice of crops produced by commercial farmers?[ 2. What is th
    15·1 answer
  • What measures the change in prices of a basket of goods and services in a given year?
    7·2 answers
  • Given the following historical demand, what is the weighted moving average forecast (0.4, 0.3, 0.3) for Week 6?
    5·1 answer
  • Exercise 12-1 Payback Method [LO12-1] The management of Unter Corporation, an architectural design firm, is considering an inves
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!