Misty, Inc. had 24,000 units of ending inventory that were recorded at the cost of $6.00 per unit using the FIFO method. The current replacement cost is $4.75 per unit
Which of the following amounts would be reported as Ending Merchandise Inventory on the balance sheet using the lower-of-cost-or-market rule?
A) $144,000
B) $258,000
C) $168,000
D) $114,000
D .Ending Merchandise Inventory =
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Losses from foreign currency translation were recognized.
a. as a component of operating income b. as a non-operating income item (other income or expense) c. as a discontinued operation d. as an item of other comprehensive income
A broker working under an exclusive right to sell listing agreement appears to have found w willing and able buyer. The buyer is unable to obtain financing to purchase the home. Is the broker due a commission?
A. Yes, the buyer signed a sales contract. B. Yes. under an exclusive right to sell listing if anyone buys the property the broker is due a commission. C. No, the broker did not produce a ready, willing and able buyer. D. No, the property did not go to closing.