Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling price $ 166,000 $ 170,000 $ 112,000 $ 71,000 Cost 148,000 138,000 78,400 49,700 Replacement cost 111,000 127,000 116,000 45,700 Sales commission 10 % 10 % 10 % 10 % In applying the lower of cost or net realizable value rule, the inventory of apparel would be valued at

Why might a business based on a fad be a good idea? question 2 options: fads bring in the most customers. some fads are longer lasting than expected. fads have made some business owners incredibly wealthy. fads can take a business in a new direction.

Atrough in the business cycle occurs when

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: