The lower-of-cost-or-net realizable value can be applied to total inventory, groups of similar items, or to each item. Groups of similar items results in the largest write downs.
What is supposed of inventory?
Inventory refers to all the items, items, merchandise, and substances held by way of a enterprise for promoting within the market to earn a profit. instance: If a newspaper dealer uses a vehicle to supply newspapers to the customers, simplest the newspaper might be considered stock. The automobile could be treated as an asset.
What are inventory items?
Inventory is the objects/products a company has to sell, in addition to the substances had to create those products. The 3 foremost classes of inventory are uncooked materials, paintings-in-progress and finished goods. An example of raw substances inventory would be the magnesium in an alloy wheel.
What's the purpose of inventory?
The primary feature of inventory is to provide operations with an ongoing deliver of materials. To acquire this function effectively, your commercial enterprise ought to try to find a sweet spot among an excessive amount of and too little, with out ever walking out of inventory.
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Answer:
Index validation and external validation
Explanation:
External validation is like when a person feels self-pride and improvement when other people appreciate his/her work performances, thought In something they need to show that they are good enough in something.
Index validation is a scientific quality of the research. It implies the quality of the management in the European countries.
Thus professor Swanson compared the index score of the marital happiness and the index validation with the external validation.
Answer:
criminal intelligence/ law enforcement intelligence
Explanation:
quizlet472747772
Answer:
1. This rises the situation of limitation on scope so Disclaimer of opinion.
2. MATERIAL but not pervasive so Qualified opinion as no capitalization of lease payment is departure from GAAP.
3.considering loss as material but not pervasive. Auditor should add an emphasis of matter paragraph to underscore this issue.
4. Scope limitation - QUALIFIED REPORT.
5. The auditor doesn't have to express an opinion but have to indicate whether this supplimentary info. Is fairly stated in all aspects.
6. Modify the report to show the division of responsibility with component auditor.
7.It affects consistency of financial statements. Supplement emphaiem of matter para. With the unmodified report.
8. The auditor should add an emphasis of matter para for better understanding of users. issue the standard unmodified report.
