Refer to the information above. What is the maximum inventory held in a given EOQ cycle?
A) 5000 bags
B) 200 bags
C) 50
D) 100 bags
E) 15 bags
C
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Product liability laws are part of the federal laws in the United States
Indicate whether the statement is true or false
On December 18, 2014, Wabbit Corporation (a U.S. Corporation) has a Forward Contract recorded on their ledger as a debit balance of $17,500. The forward contract was related to a purchase of electronic components purchased overseas,
which were going to be re-sold in the United States. On December 20, the forward contract was settled with a payment of $20,000, and the related parts which cost $118,000 were sold for $160,000 cash. The forward contract is set up to lock in the price for the electronic components when they are sold. The forward contract was settled net. Assume this is a cash flow hedge. Required: Prepare the journal entries required by Wabbit on December 20. What will be an ideal response?