Companies may choose to report plant assets as a single amount, with a note to the financial statements that provides detailed information, or companies may provide detailed information on the face of the statement

Define the term "core applications" and give some examples

On December 31, 2013, the Merchandise Inventories account of the Japanese electronics firm Flower Limited (Flower) had a balance of ¥408,700 million, based on Flower's financial reports for fiscal 2013 . Assume that during 2014, Flower purchased merchandise inventories on account for ¥1,456,400 million. On December 31, 2014, it finds that merchandise inventory on hand is ¥412,400 million

Select the correct journal entries to account for all changes in the Inventories during 2014 . (Flower applies Japanese accounting standards, and reports its results in millions of yen (¥). In answering this question, assume that Flower uses either U.S. GAAP or IFRS; for purposes of this problem, this choice will not matter.) a. Cost of Goods Sold ¥1,452,700 million Merchandise Inventories ¥1,452,700 million b. Merchandise Inventories ¥1,452,700 million Cost of Goods Sold ¥1,452,700 million c. Cost of Goods Sold ¥1,449,000 million Merchandise Inventories ¥1,449,000 million d. Merchandise Inventories ¥1,449,000 million Cost of Goods Sold ¥1,449,000 million e. none of the above