When using the gross margin method to estimate inventory, which of the following is a step in the computation?
A. Subtract estimated goods available for sale from beginning inventory
B. Add estimated gross margin to sales
C. Subtract estimated cost of goods sold from the amount of goods available for sale
D. Add the amount goods available for sale to estimated cost of goods sold
Answer: C
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A retailer that carries a broad variety and deep assortment, offers customer services, and is organized into distinct sections for displaying merchandise is called a(n)
A. convenience store. B. department store. C. off-price retailer. D. specialty retailer. E. discount retailer.
The variable overhead efficiency variance:
A) is interpreted in the same manner as the direct labor efficiency variance. B) measures the efficient use of factory utilities, factory maintenance, and factory supplies. C) measures the efficient use of the cost driver used in the flexible budget. D) measures the efficient use of direct materials.
It is not unlawful for an employer to refuse to allow workers to post organizing notices on a company bulletin board on which employees have previously been allowed to post only "for sale" cards
Indicate whether the statement is true or false
One factor contributing to the decline in cost advantages that banks once had is the decline in the importance of checkable deposits from over ________ percent of banks' source of funds to ________ percent today
A) 70; 30 B) 60; 5 C) 50; 20 D) 40; 15