Assume a beginning inventory of $100,000 with purchases during the month of $90,000 and net sales of $130,000 with a normal gross profit of 30% of sales. Using the gross profit method, estimate the end of month inventory valuation
a. $100,000
b. $91,000
c. $39,000
d. $90,000
e. $99,000
e
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A product requires 24 separate tasks, and the sum of those task times is 14 minutes. If the cycle time is 2 minutes, then at least 12 workstations will be needed
Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)