« previous next »

Author Question: The method of estimating inventory that uses records of the selling prices of the merchandise is ... (Read 98 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?

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?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Deep Palpation, Bimanual Method Deep Palpation, Bimanual Method
Estimating the molecular weight of a protein Estimating the molecular weight of a protein
A typical office file room. (Paper medical records are rapidly being replaced by electronic ... A typical office file room. (Paper medical records are rapidly being replaced by electronic ...
Performing Venipuncture Using the Vacutainer Method Performing Venipuncture Using the Vacutainer Method
Performing Venipuncture Using the Vacutainer Method Performing Venipuncture Using the Vacutainer Method
Derivative using delta method Derivative using delta method
Video: Primary and secondary response to infection

For a complete list of videos, visit our video library