« previous next »

Author Question: The method of estimating inventory that uses records of the selling prices of the merchandise is ... (Read 126 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?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

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.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Palade's use of the pulse-chase method to study protein secretion Palade's use of the pulse-chase method to study protein secretion
Prices for Cotton and for Slaves, 1802–1860 Prices for Cotton and for Slaves, 1802–1860
How to perform the substitution method for definite integrals (Part 1) How to perform the substitution method for definite integrals (Part 1)
Pavlov’s Method Pavlov’s Method
Estimating Potential Blood Volume Loss (Part 2) Estimating Potential Blood Volume Loss (Part 2)
Offset Method Plot of Land with Offset Lines Offset Method Plot of Land with Offset Lines
Video: Plant Defense Mechanisms from Pathogens

For a complete list of videos, visit our video library