sarinaneedshelp01
01.10.2019 •
Business
Jones retail. had the following balances and transactions during 2017:
the company maintains its records of inventory on a perpetual basis using the first-in, first-out inventory costing method. calculate the amount of ending merchandise inventory on december 31, 2017 using the lower-of-cost-or-market rule.
supporting materials
15 unitsat $75 purchased 35 units at $84 sold 25 units replacement cost $65 beginning inventorr une december december 31 30
a $2,275
b $1,625
c $1,875
d $1,125
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Ответ:
B $1,625
Explanation:
The computation of the ending inventory based on the lower-of-cost-or-market value is shown below:
The ending inventory units = Beginning inventory + purchase of inventory - selling units
= 15 units + 35 units - 25 units
= 25 units
So, the cost of ending inventory = ending inventory units × purchase price
= 25 units × $84
= $2,100
And, the market value equal to
= ending inventory units × replacement cost
= 25 units × $65
= $1,625
Based on the lower-of-cost-or-market value, the ending inventory would be $1,625
Ответ:
11:22 AM
Step-by-step explanation:
By means of a statement we can know that:
After an hour and 8 minutes, he stays 8 minutes behind
Which means that in 2 hours, it will take 16 minutes
If it is 10:30, it means that it is 6:30 hours later, that is to say 6.5.
therefore 6.5 x 8 = 52
Which means that at 10:30 the clock is 52 minutes late
So the correct time is 11:22 AM