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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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kipiarov [429]

The fact that support the idea that renting is a good is Landlords take care of most maintenance.

<h3>What is renting?</h3>

Renting refers to an agreement where a payment is made for the temporary use of a good, service or property owned by another.

It is obtaining a owner's property, in return for regular payments.

Hence, the fact that support the idea that renting is a good is Landlords take care of most maintenance.

Learn more about renting here : brainly.com/question/13393299

#SPJ1

3 0
2 years ago
Under the average cost method, the flow of costs through the accounting records will ___ to the physical flow of goods through t
cricket20 [7]
I think it's D
I hope this helps
7 0
3 years ago
Suppose a large country experiences economic growth which results in a reduced willingness to trade. The country’s terms of trad
eimsori [14]

Answer:

The correct answer is letter "B": improve; rise.

Explanation:

Terms of Trade measures the efficiency of a country's trade. It is a ratio which compares the exports of a country with its imports. It is <em>calculated by dividing the export value by the import value, and by multiplying the result by one hundred (100)</em>. A terms of trade figure higher than 100, means a country exporting goods at a higher value than its imports.

<em>Given the case that there is no willingness to trade in an economy after a growth, the most possible scenario to take place is that the trade terms will </em>improve <em>as a result of the decrease in the demand of imports and assuming the level of exports keeps at the constant level that allowed the economic growth or if it even </em>rises<em>.</em>

4 0
3 years ago
In 2002 Ortega's nominal income rose by 4.6 percent and the price level rose by 1.6 percent. We can conclude that Ortega's real
monitta

Answer:

c rose by 3 percent.

Explanation:

Real income is nominal income less price level changes.

Real income = nominal income - changes in price level

4.6 % - 1.6% = 3%

I hope my answer helps you

4 0
3 years ago
Suppose Lois usually buys two cups of coffee for two dollars each and one scone for two dollars each. If the price of scones fal
777dan777 [17]

Answer:

The correct answer is D. Real income effect.

Explanation:

Real income is defined as the monetary income of an individual, taking into account the effect of inflation. For example, if a person's nominal salary increases by 10% in one year, and inflation is 6% in that year, the actual income will have increased 4% in that year.

4 0
3 years ago
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