A retailer using the basic stock method wants its average monthly stock to equal 20 percent of its average monthly sales. Next year's sales are forecast at $2,400,000 . Planned sales for January are $340,000
What is the January 1 planned inventory value (at retail) using the basic stock method?
a. $380,000
b. $400,000
c. $432,000
d. The answer cannot be determined from the information provided.
a
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In evaluating internal control, the auditor is basically concerned that the system provides reasonable assurance that:
A. management cannot override the system. B. material misstatements have been prevented, or detected and corrected. C. controls have not been circumvented by collusion. D. operational efficiency has been achieved in accordance with management plans.
Choose the correct word or words in parentheses. Neither Sylvia nor Ramon (is, are) taking a summer class
Which ethical decision-making approach focuses on the amount of people that will benefit?
a. Rights approach b. Justice approach c. Utilitarian approach d. Objectivity approach
The ________ rate is the interest to be paid annually on a bond as a percentage of its par value
A) base B) coupon interest C) face interest D) compound interest E) none of the above