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zmey [24]
3 years ago
8

Current Attempt in Progress Nash's Trading Post, LLC developed the following information about its inventories in applying the l

ower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product Cost MarketA $84000 $89000 B 59000 56000 C 118000 120000 After Nash's Trading Post, LLC applies the LCNRV rule, the value of the inventory reported on the balance sheet would be:___________. a. $261000. b. $265000. c. $258000. d. $268000.
Business
1 answer:
VashaNatasha [74]3 years ago
5 0

Answer:

c. $258000

Explanation:

The computation of the ending inventory using LCRNV rule is given below:

Product         Cost                Market            LCRNV

A                    $84000           $89000        $84000

B                     $59000           $56000       $56000

C                      $118000          $120000     $118000

Total value                                                  $258,000

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The inventory turnover measures:
pashok25 [27]

Answer:

The average number of times inventory is sold during the period.

Explanation:

Inventory turnover by definition is the relationship between inventories and the cost of goods sold by a firm. It measures on average, how many times the inventory was restocked and sold in the operating period.

A higher number usually suggests a healthier operation cycle for a business.

It is measured by,

Inventory turnover = Cost of goods sold / Average inventory

Option 1 and Option 3 are related to the performance of accounts receivables. Option 3 is the closest to above mentioned definition. Option 4 is only measuring the inventory clearance time.

Hope that helps.

7 0
3 years ago
When economists are sketching examples of demand and supply, it is common to sketch a demand or supply curve that is close to ve
Hitman42 [59]

Answer:

a. inelastic

Explanation:

<em>As you can see in the image I added, the curve that is close to a vertical is the inelastic one.</em> Inelastic means that the demand remains the same even if the prices go up or down.

I hope you find this information useful and interesting! Good luck!

6 0
3 years ago
A reporter appears on television and reports that a collegiate athlete is currently using steroids. The reporter has a sincere b
zhannawk [14.2K]

Answer:

The answer is D, the reporter is liable for a claim of libel

Explanation:

First of, we need to understand that libel in it self refers to a false statement or report published against an individual and of which the report has a very high tendency of tarnishing the individuals image. In order words, it can also be refereed to as the defamation of character where the victim in this case is refereed to as the character.

So,  referring back to the question. As a reporter, it is assumed that proper diligence has been done in respect to investigation or investigative journalism as some like to call it before going before the public to declare such a defaming statement and in such a case where such sequentially, the statement comes to be a false statement, the reporter and in some cases the firm at large is liable for a claim of libel.

So as related to the question asked, the answer is D.

6 0
3 years ago
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weqwewe [10]
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8 0
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Price Adjustments This activity is important because as marketing managers set final prices, they start with the list (quoted) p
EleoNora [17]

Answer:

1. Discount

2. Geographical adjustments

3. Allowance

4. Discount

5. Allowance

6. Discount

Explanation:

1. Discount for early purchase and delivery order of chlorine and shock products

2. Geographical adjustment of price, due to shipping and handling costs

3. Allowance given to Raquel for the old ring; to help/encourage her purchase a new one (from the store)

4. Discount on the price or cost of purchase, for customers (like Joshua) who would buy more socks at a go

5. Allowance Capri Sun gives to Safeways Store, for every 15 cases of Capri Sun ordered and displayed in front of the store

6. Discount incentive/bonus Amazon is offering its Prime members. Take note of the nomenclature "Prime members". These are customers who make frequent orders or order a lot of products. Amazon is herefore offering a discount.

NOTE:

- A discount is offered to reduce the cost of purchase - which could be direct or indirect - while an allowance is given to encourage a business deal; as in numbers 3 and 5.

7 0
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