A company should check inventory quantities before accepting a sales order for all the following reasons except to
A) verify the accuracy of the perpetual inventory records.
B) inform the customer about availability and delivery times.
C) know which items may need to be back ordered.
D) update inventory records to reduce the quantity available by the number of items ordered.
Answer: A) verify the accuracy of the perpetual inventory records.
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Explain how future, leaner organizations will use technology and staffing policies to become more efficient
What will be an ideal response?
Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's gross profit?
A) $18,000,000 B) $15,225,000 C) $5,000,110 D) $6,632,000