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anygoal [31]
3 years ago
10

Wilson Animal Feeds has developed the following data to calculate lower of cost or market for its products.

Business
1 answer:
NeX [460]3 years ago
6 0

Answer:

The total reported inventory value is $1,130.

Explanation:

Note: The data given the question are sorted and presented properly as follows:

                                    <u> Selling Price  </u>         <u>    Cost    </u>

Large animals:                  

Cattle                                     $320                    $160

Horse                                      400                      400

Small animals:

Cat                                         $360                  $320

Dog                                          120                       90

Exotic pets:

Ferret                                     $140                    $112

Iguana                                       70                      48

Based on the lower of cost and net realizable value rule, we select the lower and determine the reported inventory value as follows:

<u>Details                                        Value ($)   </u>

Large animals:

Cattle                                            160

Horse                                            400

Small animals:

Cat                                                320

Dog                                                90

Exotic pets:

Ferret                                             112

Iguana                                        <u>    48    </u>

Total value                              <u>    1,130   </u>

Therefore, the total reported inventory value is $1,130.

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6 0
3 years ago
1 of 5) What does it mean to "Diversify" your portfolio?
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Answer:

D. A and B

Explanation:

5 0
3 years ago
Which of the following describes the substitution effect of a price change?A) The change in demand that results from a change in
Liula [17]

Answer:

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Explanation:

Substitution effect is a concept in which, as the price of a good or service increases, less of the good or service is substituted for other less expensive.

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Option A. is wrong because we are talking about the quantity demanded and not just demand. (Please take note).

6 0
4 years ago
Assume a domestic company in the US, let's say Colgate-Palmolive, is deciding to export to a country where to date Colgate produ
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Answer:

agent method of entry

Explanation:

Agent method of entry will demonstrate lower fixed costs associated.

8 0
3 years ago
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