This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When the market price or current replacement price of an inventory item declines below the actual ... (Read 105 times)

waynest

  • Hero Member
  • *****
  • Posts: 553
on: Jun 24, 2018
When the market price or current replacement price of an inventory item declines below the actual price paid for the item, a company is permitted to use the lower-of-cost-or-market rule.
  Indicate whether the statement is true or false

Question 2

Backyard World buys plastic pools from a supplier with an invoice amount of 19,500. The terms of the sale are 5/10, n/30. If the retailer sends a partial payment of 8,700 on the discount date, what is the net amount still due?
 A) 10,342.11
  B) 10,365.00
  C) 10,800.00
  D) 9,135.00


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

maaaaaaaaaa

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 24, 2018
Answer to Question 1

TRUE

Answer to Question 2

A


waynest

  • Member
  • Posts: 553
Reply 2 on: Jun 24, 2018
:D TYSM

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

A software inventory log. A software inventory log.
Enzymes: Note the enzyme has the ending ase as in sucrase and the actual substrate is sucrose. Enzymes: Note the enzyme has the ending ase as in sucrase and the actual substrate is sucrose.
The battery was replaced in this Acura and the radio displayed “code” when the replacement ... The battery was replaced in this Acura and the radio displayed “code” when the replacement ...
Predicted versus Actual GDP per Worker Predicted versus Actual GDP per Worker
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Fermentation - When Oxygen Is Absent, Pyruvate to Lactate & Pyruvate to Ethanol

For a complete list of videos, visit our video library