Inventory write down to $2,600
Inventory loss of $600
Reason :
According to the generally accepted accounting principles we always record inventory at the lower of market or net realizable value.
We record at Cost of $13/unit which gives us a total closing inventory of
Closing inventory = 13×200 = $2,600, this is the amount that is to be recorded in the balance sheet.
A loss of 16-16=$3/ unit is to be recorded, giving a total loss of 3×200 = $600
This loss can be recorded in the cost of goods sold part when the inventory is actually sold.
Current inventory :
Current Inventory means the subset of Conveyed Inventory that are first quality, ready salable finished goods available for sale as part of the Business for the “Fall 2004” or later collections.
Learn more about Current inventory :
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Answer:
Modified Rebuy
Explanation:
Modified rebuying is the process whereby an individual or an organization makes a purchase that have been previously purchased but this times makes changes to some elements different from the previous purchase like change of suppliers, terms, price and so on. In this case, the buyer reviews the buying situation. Here, the buyer is interested in modifying the specifications of goods previously purchased.
Answer:
$61.60
Explanation:
Equity funding need = Projected assets - Projected liabilities - Current equity - Projected increase in retained earnings
Equity funding need = $2,739 - $561 - $1,980 - $136.40
Equity funding need = $61.60
<u>Workings</u>
Projected assets = (Current assets + Fixed assets) * 1.10 = 820+1,670 * 1.10 = $2,739
Projected liabilities = Current liabilities * 1.10 = 510 * 1.10 = $561
Current equity = Current assets + Fixed assets - Current liabilities = 820 + 1,670 - 510 = $1,980
Projected increase in retained earnings = Sales*5% * 1.10 = $2,480*5% * 1.10 = 124*1.10 = $136.40
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