What ratio (usually an average from prior periods) can be used in estimating the current period's ending inventory?
What will be an ideal response?
Gross margin ratio
Gross margin ratio, based on history, can be used, paired with sales of the current period, to estimate cost of goods sold, and subsequently, ending inventory.
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You would not need to cite a source if you
A) used a direct quotation of under 250 words from a book titled Modern Economics. B) used a table from the 1985 Farmer's Almanac. C) described, in your own words, a plan for organizing production lines, which appeared in a professional journal. D) used it to gather common knowledge about your topic. E) found it on Google, Yahoo, or Bing.
Which of these countries is NOT identified in the text as having a developing economy with a substantial market?
A) Russia B) China C) India D) Europe
Why would the manager of a service company need to use job order costing?
What will be an ideal response
Errors in the period-end inventory balance only affect the current period's records and financial statements.
Answer the following statement true (T) or false (F)