« previous next »

Author Question: The method of estimating inventory that uses records of the selling prices of the merchandise is ... (Read 119 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?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Gasoline prices Gasoline prices
Palpation of the Liver, Hook Method Palpation of the Liver, Hook Method
Performing Venipuncture Using the Vacutainer Method Performing Venipuncture Using the Vacutainer Method
Method of Loci Method of Loci
How to solve a pair of linear equations using the Addition-Subtraction Method How to solve a pair of linear equations using the Addition-Subtraction Method
Manage First: Inventory and Purchasing Manage First: Inventory and Purchasing
Video: Basic rhythm - control centers in medulla oblongata, spirograph and normal tidal cycle

For a complete list of videos, visit our video library