Misty, Inc. had 24,000 units of ending inventory that were recorded at the cost of $6.00 per unit using the FIFO method. The current replacement cost is $4.75 per unit
Which of the following amounts would be reported as Ending Merchandise Inventory on the balance sheet using the lower-of-cost-or-market rule?
A) $144,000
B) $258,000
C) $168,000
D) $114,000
D .Ending Merchandise Inventory =
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The demand for foreign exchange results from transactions that appear on the
a. credit side of a country's balance of payments statement. b. debit side of a country's balance of payments statement. c. both the credit side and the debit side of a country's balance of payments statement. d. neither the credit side nor the debit side of a country balance of payments statement.
In 2015, Boone, Inc sold 1,000 carpets for $50 each. The carpets carry a 2-year warranty for repairs. Boone estimates that repair costs will average 2% of the total selling price. What is the amount that would be recorded in the warranty liability account as a result of selling the carpets during 2015?
a. $1,000 b. $ 500 c. $ 20 d. No liability should be recorded until the carpets are returned for repairs.
What is a servient estate?
A) a piece of land that is being examined for an abstract of title B) a piece of land over which an easement is granted C) a piece of land that has concurrent owners D) a piece of land that comes under a zoning ordinance
The Robinson-Patman Act of 1936 was added to the panoply of American anti-trust law to make ________ illegal
A. anticompetitive mergers B. tying arrangements C. monopolization D. price discrimination