The lower of cost and net realizable value method for inventory was developed to:
A. Prevent the company from selling the inventory below its original cost.
B. Prevent the company from selling inventory to customers who are not likely to pay.
C. Provide an alternative to the FIFO, LIFO, and weighted-average methods.
D. Avoid reporting inventory at an amount that exceeds the benefits it provides.
Answer: D
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What will be an ideal response?
Robert Inc uses the standard costing method. The company's main product is a fine-quality headphones that normally takes 0.5 hour to produce. Normal annual capacity is 5,000 direct labor hours, and budgeted fixed overhead costs for the year were $8,750. During the year, the company produced and sold 5,800 units. Actual fixed overhead costs were $6,000. Using the information provided for Robert
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A decision methodology that uses hierarchy of criteria for evaluation of alternative decisions is the ______.
A. analytic hierarchy process (AHP) B. optimization method C. factor rating method D. sourcing algorithm
Company X is operating in a fast-changing, knowledge-intensive industry. The most feasible structure for its innovative processes is therefore central-to-global because that allows for a high degree of corporate control.
Answer the following statement(s) true (T) or false (F)