The adjusting entry to decrease the merchandise inventory under <em>the lower of cost or market value computations</em> includes a debit to the Cost of Goods Sold and a credit to the Merchandise Inventory.
The <em>Lower of Cost or Market Value</em> determines the value of inventory based on either the cost of the item or the market value, whichever is lower.
Thus, since the merchandise inventory decreases by the entry, the cost must be higher than the market value.
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Answer:
A. upper-echelons theory
Explanation:
Upper echelons theory postulates that too executives of a company view situations in a highly personalised way that is as a result of their experiences, values, and personalities.
The CEO of Mabel emphasized making affordable, low-maintenance vehicles that could be bought by low-income households.
This decision was as a result of his childhood experience where his parents had difficulty providing money to support the family.
He empathized with low income households, and wanted to provide goods that will help them
A competitive market economy with low barriers to entry affords an entrepreneur with
the opportunity to bring new and different products and services to the market.
Answer:
Amount paid to record is $58,900
Explanation:
In this question, we are asked to state the Journal entry as of March 1.
Please check attachment for tabular explanation
Kindly note that 360 is used as the number of days in a year
