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 143 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
Excellent


Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

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?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

For a complete list of videos, visit our video library