This topic contains a solution. Click here to go to the answer

Author Question: When the market price or current replacement price of an inventory item declines below the actual ... (Read 142 times)

waynest

  • Hero Member
  • *****
  • Posts: 553
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
Answer to Question 1

TRUE

Answer to Question 2

A




waynest

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


Mochi

  • Member
  • Posts: 300
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

For a complete list of videos, visit our video library