The philosophy of the ________ is that a firm would have only work-in-process inventory
A) basic economic order quantity system
B) materials requirement planning system
C) just-in-time system
D) LIFO method
C
Business
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Budgeting is the process management uses to _____________ its plans.
Fill in the blank(s) with the appropriate word(s).
Business
New Hope, Inc is a merchandiser of stone ornaments
It sold 15,000 units during the year. The company has provided the following information: Sales Revenue $525,000 Purchases (excluding Freight In) 347,000 Selling and Administrative Expenses 36,500 Freight In 15,500 Beginning Merchandise Inventory 42,000 Ending Merchandise Inventory 55,500 How much is the gross profit for the year? A) $212,500 B) $349,000 C) $176,000 D) $178,000
Business