Answer:
Dr Retained earnings $8.2
Cr Inventory $8.2
Explanation:
By changing method of an inventory valuation, the company should apply it retrospectively based on IAS 8 guidelines on change in accounting estimates and errors. Thus, the said difference from FIFO method to Weighted Average method of valuation should be credited directly against Retained earnings account because, accounts are already closed right after the year ended.
$32-$23.8= $8.2 million
To record the said adjustment you have to
Debit Retained earnings and credit Inventory in the amount of $8.2 million.
Answer:
Modified Rebuy.
Explanation:
Modified Rebuy can be defined as the desires of a buyer to re-purchase or reorder the products previously bought but with certain modifications either in prices, products, suppliers, or terms. The buyer may modify the current purchasing terms because he may not be satisfied with the supplier or may have some new requirements.
In the given case, the modification in supplier has been made by the organization to get a better price. Thus this is an example of modified rebuy.
So, the correct answer is modified rebuy.
Answer:
The eccentricity, denoted by e, is defined as that fraction of an ellipse size which causes the focus to move away from the center. When an ellipse has an eccentricity of zero, this means that the focus and the center are in one same place. Thus the eccentricity of the secondary focus located at the sun is zero when located at the sun. Thus with an eccentricity of zero, the focus and center will be at same place therefore making the shape of the orbit to be a perfect circle.
Explanation:
