subject
Business, 07.04.2020 03:20 sarahparah002

Perfect Catering Company's ending inventory was $103,700 at historical cost and $111,500 at current replacement cost. Before consideration of the lower-of-cost-or-market rule, the company's cost of goods sold was $62,000. Following U. S. GAAP, which of the following statements reflect the correct application of the lower-of-cost-or-market rule?A. The Ending Inventory balance will be $111,500, and Cost of Goods Sold will be $62,000.B. The Ending Inventory balance will be $103,700, and Cost of Goods Sold will be $62,000.C. The Ending Inventory balance will be $111,500, and Cost of Goods Sold will be $69,800.D. The Ending Inventory balance will be $111,500,and Cost of Goods Sold will be $54,200.

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 02:30
The cost of capital: introduction the cost of capital: introduction companies issue bonds, preferred stock, and common equity to aise capital to invest in capital budgeting projects. capital is』necessary factor of production and like any other factor, it has a cost. this cost is equal to the select the applicable security. the rates of return that investors require on bonds, preferred stocks, and common equity represent the costs of those securities to the firm. companies estimate the required returns on their securities, calculate a weighted average of the costs of their different types of capital, and use this average cost for capital budgeting purposes. required return on rate: when calculating om operations when the firm's primary financial objective is to select shareholder value. to do this, companies invest in projects that earnselect their cost of capital. so, the cost of capital is often referred to as the -select -select and accruals, which a se spontaneously we hted average cost of capital wa c our concern is with capital that must be provided by select- 쑤 interest-bearing debt preferred stock and common equity. capital budgeting projects are undertaken, are not included as part of total invested capital because they do not come directly from investors. which of the following would be included in the caculation of total invested capital? choose the response that is most correct a. notes payable b. taxes payable c retained earnings d. responses a and c would be included in the calculation of total invested capital. e. none of the above would be included in the cakulation of total invested capital.
Answers: 2
question
Business, 22.06.2019 04:30
The lee family is looking to buy a house in one of two suburban areas just outside of a major city, and air quality is a top priority for them. overall air quality is calculated by taking measures in 100 locations within each suburb and then calculating a measure of central tendency. in one suburb, there is a major bus station that creates very poor air quality at its location but has no impact in the surrounding parts of the suburb. in this situation, which measure of overall suburb air quality would be most useful?
Answers: 3
question
Business, 22.06.2019 08:20
How much does a neurosurgeon can make most in canada? give me answer in candian dollar
Answers: 1
question
Business, 22.06.2019 11:10
Yowell company granted a sales discount of $360 to a customer when it collected the amount due on account. yowell uses the perpetual inventory system. which of the following answers reflects the effects on the financial statements of only the discount? assets = liab. + equity rev. − exp. = net inc. cash flow a. (360 ) = na + (360 ) (360 ) − na = (360 ) (360 ) oa b. na = (360 ) + 360 360 − na = 360 na c. (360 ) = na + (360 ) (360 ) − na = (360 ) na d. na = (360 ) + 360 360 − na = 360 na
Answers: 1
You know the right answer?
Perfect Catering Company's ending inventory was $103,700 at historical cost and $111,500 at current...
Questions
question
Mathematics, 30.11.2020 22:00
question
English, 30.11.2020 22:00
question
Mathematics, 30.11.2020 22:00
Questions on the website: 13722367