Using the retail inventory method, if the cost to retail ratio is 75% and ending inventory at retail is $149,000, then estimated ending inventory at cost is $211,143.
Answer the following statement true (T) or false (F)
False
$149,000 × 0.75 = $111,750
You might also like to view...
________ refers to the normal work of preparing, pricing, distributing, and promoting the service to customers
A) Interactive marketing B) Internal marketing C) External marketing D) Promotional marketing E) Direct marketing
Under a capital lease, the lessee does all of the following except:
A) debits Capital Lease Equipment. B) debits Rent Expense. C) records depreciation on the leased asset. D) credits Capital Lease Obligations.
There are many ways in which a company can obtain information about its competitors. Which of the following is not one of them?
A. using neuromarketing techniques on its employees B. viewing competitors' social media sites C. attending conferences or trade shows D. talking to distributors and suppliers E. analyzing data on government agency websites
Barlo Lunch Snacks places a coupon in each box of its cracker product. Customers may send in five coupons and $3, and the company will send them a recipe book. Sufficient books were purchased at a cost of $5 each. A total of 500,000 boxes of product were sold in 2016. It was estimated that 4% of the coupons would be redeemed. During 2016, 9,000 coupons were redeemed. What is Barlo's premium expense for 2016?
A. $4,400 B. $8,000 C. $20,000 D. $40,000