« previous next »

Author Question: The method of estimating inventory that uses records of the selling prices of the merchandise is ... (Read 66 times)

mynx

  • Hero Member
  • *****
  • Posts: 555
on: Jul 5, 2018
The method of estimating inventory that uses records of the selling prices of the merchandise is called
 a. retail method
  b. gross profit method
  c. inventory turnover method
  d. average cost method

Question 2

Sure Enuf, Inc. paid 4,800 on May 1, 2012 for 12 months' insurance coverage starting May 1. How much insurance expense should appear on the company's income statement for the year ended December 31, 2012?
 
  A) 4,800
  B) 2,800
  C) 3,200
  D) 0. Insurance expense does not appear on the income statement.


cadimas

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Equipment Inventory Record Equipment Inventory Record
A software inventory log. A software inventory log.
Measuring Systolic Blood Pressure Using the Palpatory Method Measuring Systolic Blood Pressure Using the Palpatory Method
Performing Venipuncture Using the Vacutainer Method Performing Venipuncture Using the Vacutainer Method
The Electronic Transmission and Storage of Medical Records The Electronic Transmission and Storage of Medical Records
Integral Calculus-Volume using Disk method Integral Calculus-Volume using Disk method
Video: Bond in biological molecules (Ionic, Covalent and Hydrogen bonds)/ How atoms bond?

For a complete list of videos, visit our video library