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
Yuki888 [10]
3 years ago
13

At the year-end, Encore Company has a product for inventory that was purchased at a cost of $23. The product's expected selling

price is $36 and the cost of completing the sale is $15. Using the lower of cost or net realizable value rule, what amount should be reported on the balance sheet for inventory
Business
1 answer:
allsm [11]3 years ago
6 0

Answer:

$21

Explanation:

As we know that

The inventory should be recorded in the books of accounts by applying the lower value of cost or net realizable value

In the given case

The cost is $23

And, the net realizable value is

= Expected selling price - selling cost

= $36 - $15

= $21

So by comparing the cost and net realizable value, the net realizable value contains the lower value i.e $21 and the same is recorded on the balance sheet for inventory

You might be interested in
As the dollar price of a foreign currency (for example, dollars per yen) decreases, foreign goods will be __________ expensive,
jasenka [17]

Answer:

Less; more; more.

Explanation:

Depreciation can be defined as a process in which the monetary or financial value with respect to an asset decrease or falls over time as a result of wear and tear.

This ultimately implies that, depreciation is a process which typically involves the general fall in the value of an asset such as currency, plant equipment or machinery etc over a specific period of time.

Basically, in a floating exchange rate system, a fall or decline in the value of a currency with respect to another currency is generally referred to as currency depreciation.

As the dollar price of a foreign currency (for example, dollars per yen) decreases, foreign goods will be less expensive, more foreign goods will be purchased, and more foreign currency will be demanded.

<em>Hence, if the currency of a foreign country is depreciating, this should stimulate import (more foreign goods will be purchased) because these foreign goods will become relatively less expensive as a result of a fall or decline in the currency and vice versa. </em>

3 0
3 years ago
Barbara Flynn is in charge of maintaining hospital supplies at General Hospital. During the past​ year, the mean lead time deman
Xelga [282]

Answer:

a)  10

b)  85

Explanation:

a)

The safety stock is gotten by multiplying the standard deviation with the appropriate z value (demand and service level).

THe z coefficient of service level of 95% is 1.64

So we multiply the SD (standard deviation) with 1.64

Safety Stock = 6 * 1.64 = 9.84 = 10

b)

Now, the reorder point.

Reorder Point = Lead Time Demand + Safety Stock

It is already given that Lead TIme Demand is 75 and we found Safety Stock to be 10, so:

Reorder Point = 75 + 10 = 85

3 0
3 years ago
Organizations use ______ such as commissions, profit-sharing, bonuses, and stock options to attract and retain top performers.
Softa [21]

Answer:

The answer is incentives

Explanation:

Hope this helps:)....if not then sorry for wasting your time and may God bless you:)

7 0
2 years ago
Connor Buck Company purchased an oil tanker on January 1, 2014, at a cost of $3,000,000 cash. Connor expects to operate the depo
kakasveta [241]

Answer:

I am from India.......

7 0
3 years ago
When conducting a threat assessment an organization should determine? Which threats requires the least expenditure to prevent. W
andre [41]

Answer:

Threat assessment includes in depth analysis of a risk occurence and its impact on the organization, both in financial and non financial aspects are considered.

Explanation:

The last questions listed is relevant to threat assessment because threat assessment is acknowledging what impact a particular outcome poses on the organization operations or organization as a whole. Whereas the first question was of risk management procedure which talks about how a risk must be mitigated to make ensure a safe future of the organization.

5 0
4 years ago
Other questions:
  • Which qualifications are needed for a Logistics Planning and Management career? Select all that apply.
    11·1 answer
  • When Fisher-Price comes up with an idea for a new toy, it needs to ensure that the children who play with the toy will not choke
    6·1 answer
  • Consider the following information: Portfolio Expected Return Beta Risk-free 7 % 0 Market 12.2 1.0 A 11.0 1.6 a. Calculate the r
    13·1 answer
  • "The one-year forward rate of the British pound is $1.55, while the current spot rate is $1.60. Based on the forward rate, what
    5·1 answer
  • Cassie's Quilts alters, reconstructs, and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning, and reconst
    8·1 answer
  • What would you pay for an investment that pays you $49000 at the beginning of each year for the next ten years? Assume that the
    6·1 answer
  • Test anxiety symptoms can include a. Shaky hands c. Headaches b. Sweating d. All of these Please select the best answer from the
    13·2 answers
  • Between 1950 and 2015 the percentage of women in the work force has______.
    9·1 answer
  • 35. A listing contract that spells out terms and conditions for the seller and broker is what type of agreement?
    12·1 answer
  • a consumer's line or constraint shows various combinations of two products that can be purchased with a specific amount of incom
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!