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Vilka [71]
4 years ago
14

Inventory may properly be stated above cost

Business
1 answer:
pentagon [3]4 years ago
5 0

Answer:

Explanation: Only in exceptional cases may inventories be stated above cost according to the Accounting Standards Codification. For instance, precious metals, which have a fixed monetary value with no substantial cost of marketing may be stated at its monetary value, which may be above cost; For agricultural, mineral, and other products that can be substituted for one another and have immediate marketability at quoted prices, it may be difficult to obtain appropriate costs leading to inventory being stated above costs.

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Stubbs Company uses the perpetual inventory method. On January 1, Year 1, Stubbs purchased 400 units of inventory that cost $8.0
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Answer:

A. USD 5,180/-

Explanation:

In the actual method of inventory valuation, the inventory reaming and the COGS (Cost Of Goods Sold) is measured after each purchase or sale of a  transaction. So the COGS and the remaining value of the inventory is known all the time.

Formula:

  • Gross margin is equal to Sales minus COGS

3 0
3 years ago
What does franchisor mean?
expeople1 [14]

Answer:

i'm pretty sure it is d

Explanation:

5 0
4 years ago
Read 2 more answers
The premise of the __________ is that billionaires, millionaires, and all those at the top of the income ladder are expected to
andreyandreev [35.5K]

The answer in the space provided is the progressive tax system. The progressive tax system is the one responsible of having to provide taxes for tax payers in each category in which is in consistent with the sentence described above.

5 0
3 years ago
Darryl’s portfolio includes 66 shares of Essentia Inc., 95 shares of SFT Legal, and 180 shares of Grath Oil. If Essentia Inc. pa
PSYCHO15rus [73]

Answer: d. $579.44

Explanation:

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Total Dividends

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7 0
3 years ago
Luke heads the human resource department at a technology development company. There, he monitors trends of the labor markets wit
olasank [31]

Answer:

The correct answer would be, This scenario illustrates Luke's competency in Critical Evaluation.

Explanation:

When you critically evaluate a situation or scenario, and then make suggestions for that, it is called as Critical Evaluation. In this question, Luke monitors the trends of labor market in the industry and realizes the need of employees who must be skilled in Robotics. He realizes that his company is going to need Skilled employees in Robotics. He gathers information about the best robotic training programs in the region where the company operates. He then searched for best schools who provide training on such programs. He is basically critically evaluating the need of his business in the coming months or years and he is planning for that in advance by looking at all options and selecting the best before the need becomes serious. So Luke is using his Critical Evaluation Competency in this situation.

4 0
3 years ago
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