Answer:
The answer is attached for ready reference
Explanation:
Please note no effect for depreciation is taken as it is non cash item.
The may ending balance is having a surplus of $103,300
Answer:
D. Replacement cost.
Explanation:
As we know that the inventory should be recorded at the cost or market value whichever is lower
Given that
Original cost is less than the net realizable value subtract the profit margin
So we assume the following figures
Original cost $10
Net realizable value 9
Replacement cost 8
NRV less normal profit margin 7
As if we compare the original cost and replacement cost so the lower value is of replacement cost
hence, the same is to be considered
Therefore the correct option is D.
Answer:
Financial planning is a step-by-step approach to meet one's life goals. A financial plan acts as a guide as you go through life's journey. Essentially, it helps you be in control of your income, expenses and investments such that you can manage your money and achieve your goals.
Explanation:
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