Robyn's Retail had 400 units of inventory on hand at the end of the year. These were recorded at a cost of $15 each using the last-in, first-out (LIFO) method. The current replacement cost is $13 per unit
The selling price charged by Robyn's Retail for each finished product is $22. In order to record the adjusting entry needed under the lower-of-cost-or-market rule, the Merchandise Inventory will be ________.
A) debited by $5,200
B) credited by $5,200
C) debited by $800
D) credited by $800
D .
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What will be an ideal response?
Which of the following statements is true with regard to the order quantity?
a. If the order quantity in each order is large, then fewer orders will be placed, which will result in lower annual ordering costs. b. If the order quantity in each order is small, then more orders will be placed, which will result in lower annual ordering costs. c. If the order quantity in each order is large, then fewer orders will be placed, which will result in higher annual ordering costs. d. If the order quantity in each order is small, the fewer orders will be placed, which will result in lower annual ordering costs.
High-end luxury products that will be priced high do not need to evaluate their competitor's prices. ?
Answer the following statement true (T) or false (F)