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Sphinxa [80]
3 years ago
6

A company had been selling its product for $20 per unit, but recently lowered the selling price to $15 per unit. The company's c

urrent inventory consists of 200 units purchased at $16 per unit. The replacement cost of this merchandise is currently $13 per unit. At what amount should the company's inventory to be reported on the balance sheet under the lower of cost or market rule
Business
1 answer:
sammy [17]3 years ago
6 0

Answer:

$2,600

Explanation:

As we know that the inventory should be recorded at a cost or market value which ever is lower

In the given case,

The cost is

= 200 units ×$16 per unit

= $3,200

And, the market value is

= 200 units × $13 per unit

= $2,600

So as we can see that the lower value is $2,600 and the same is to be reported on the balance sheet

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__________ managers believe that there are differences and similarities between domestic and foreign practices and that managers
almond37 [142]

Answer: Geocentric managers

Explanation: Geocentric managers are the managers that accept the fact that every country have different culture and environment which can affect the business overall. Therefore, these managers use different techniques and procedures for different economies.

These are usually the managers of multinational corporations operating globally. These managers usually do not lack resources and can use the latest and best techniques for their operations.

4 0
2 years ago
Describe how you learn and adjust when an experience does not turn out as expected.
yan [13]

The best way to learn and adjust to a bad experience is to learn from it and try again.

<h3>What is a Learning Experience?</h3>

This refers to the circumstance or event that occurs that teaches one a (painful) lesson that would give him a better idea of dealing with similar events.

Hence, we can see that when a person has a bad experience, it is important to take the lessons and apply it, so that it would not occur again.

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6 0
1 year ago
On April 15 of the current year, a fire destroyed the entire uninsured inventory of a retail store. The following data are avail
likoan [24]

Answer:

The correct answer is C: 120,000

Explanation:

Giving the following information:

Sales, January 1 through April 15 $480,000

Inventory, January 1 80,000

Purchases, January 1 through April 15 400,000

Markup on cost 25%.

We need to find the difference between the cost of the lost inventory and what it will cost to purchase now.

Inventory= (Beginning inventory + purchase)*0.25=

Inventory= 480,000 * 0.25= 120,000

4 0
3 years ago
Which group of government financial statements reports all revenues and all costs as well as all assets and liabilities of the g
Butoxors [25]

Answer:

Government-wide financial statements.

Explanation:

The government wide financial statement is a financial statement that conduct financial activity together in one place and record on accrual basis that have information related to the economic resources.

Therefore as per the given situation, it records all types of revenues, cost, assets and liabilities

Hence, the above is the answer

4 0
3 years ago
A founder owns 100% of a company and there are no options outstanding and no option pool for options to be granted later. An inv
zloy xaker [14]

Answer:

Share of founder in the company will be 50 %

Explanation:

We have given Initial ownership pattern

Founder owns 100 % of the company

A new investor wants 30% and also  option pool of 20% is also required

Now if the option pool is pre-money, then the option pool is created without impacting the desired investor ownership%;

Investor=30%

Option pool=20%

So founder = 100-30-20 = 50 %

So the share of founder in the company will be 50 %

8 0
2 years ago
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