List the specific steps used in computing the estimated inventory balance using the gross margin method.
What will be an ideal response?
(1) Estimate the dollar amount of gross margin by multiplying the gross margin percentage by the sales.
(2) Estimate cost of goods sold by subtracting the estimated gross margin from sales.
(3) Estimate ending inventory by subtracting the estimated cost of goods sold from the amount of goods available for sale (beginning inventory plus purchases).
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Forty percent of the students who enroll in a statistics course go to the statistics laboratory on a regular basis. Past data indicates that 65% of those students who use the lab on a regular basis make a grade of A in the course. On the other hand, only 15% of students who do not go to the lab on a regular basis make a grade of A. If a particular student made an A, determine the probability that she or he used the lab on a regular basis.
What will be an ideal response?
Standard costs can be used with both the process cost and job order cost systems
Indicate whether the statement is true or false
Carelessness or negligence is a form of subjective fault
a. True b. False Indicate whether the statement is true or false
Litwin(1978), in addition to modeling climate as affecting motivation, included ______.
A. leadership principles B. the outcome variables of organizational performance C. employee health and retention D. B and C