Answer:
H.T. Tan Company
Computation of the Ending Inventory, using lower of cost or net realizable value:
Item Quantity (FIFO cost) Net Realizable Value Valuation
A 50 $15 $12 $600 ($12 x 50)
B 80 30 40 $2,400 ($30 x 80)
C 10 48 52 $480 ($48 x 10)
D 70 25 30 $1,750 ($25 x 70)
E 350 10 5 $1,750 ($5 x 350)
Total 560 $6,980
Explanation:
Conservatism principle requires that in valuing inventory, an entity should choose a method that does not overstate the inventory value. The LCNRV method meets this requirement. The method takes the lower of the historical cost of the goods and the market price to determine the value of inventory.
Answer:
finished cost = $200,000
inventory cost=$250,000
manufactured cost= $600,000
cost of good= beginning inventory+purchase during period cost- ending inventory
$600,000+$200,000-$250,000
$550,000
Answer:
the balloon payment after 300 months is $1,205,266.38
Explanation:
In order to pay the loan completely after 300 months, your monthly payment should be $1,948.75. Since you can only pay $800 per month, the loan's balance after 300 payments will be $1,205,266.38. This is irrational since you will end up owing 4 times the initial amount. You will never even be close to paying even the interest expense, so the principal increases every month.
I prepared an amortization schedule using an excel spreadsheet
Stereotyping is placing a person or group of persons into an inflexible, all-encompassing category, whereas prejudice is a judgment of someone based on an assumption that you already know relevant facts or background information.
Answer:
C. Monopolistic competition
Explanation:
Monopolistic competition describes a type of market structure with many firms competing, but each sells a slightly different product. In this case, there are several stores offering a variety of products to customers. This implies competition among sellers and differentiated products. Other features that identify a monopolistic competition include
- A large number of buyers and sellers:
- There are no restrictions to entry and exit of Firms:
- sellers have differentiated Products
- Each firm can set its price.
