First Street, Inc. has 6 units in ending merchandise inventory on December 31. The units were purchased in November for $190 each. The price lists from suppliers indicate the current replacement cost of the item to be $182 each
Which of the following statements is true of the effects of the adjustments to ending merchandise inventory on the cost of goods sold?
A) The cost of goods sold would increase by $8.
B) The cost of goods sold would not be affected.
C) The cost of goods sold would decrease by $48.
D) The cost of goods sold would increase by $48.
D .Merchandise Inventory to be written down to market value
Total amount to be written down from Merchandise Inventory
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If on-hand inventory = 100 units, scheduled receipts = 100 units and backorders = 100 units, the Inventory Position (IP) is 100 units
Indicate whether the statement is true or false
Which of the following is a concern about delivery methods when a communication contains sensitive information?
A) Time B) File compression method C) Convenience D) Cost E) Security