This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the replacement cost of inventory is less than its historical cost, the company will write down ... (Read 46 times)

waynest

  • Hero Member
  • *****
  • Posts: 553
on: Feb 18, 2020
If the replacement cost of inventory is less than its historical cost, the company will write down the inventory by:
◦ making a note in the financial statements only.
◦ debiting Cost of Goods Sold and crediting Inventory.
◦ debiting Inventory and crediting Cost of Goods Sold.
◦ debit Inventory for replacement cost, credit Inventory for historical cost.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by waynest on Feb 18, 2020

miss_1456@hotmail.com

  • Sr. Member
  • ****
  • Posts: 289
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


waynest

  • Member
  • Posts: 553
Reply 2 on: Feb 18, 2020
YES! Correct, THANKS for helping me on my review

blakcmamba

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

The MMPI personality inventory The MMPI personality inventory
How to write a quadratic equation in standard form when a graph is given How to write a quadratic equation in standard form when a graph is given
Cost Accounting 14 Cost Accounting 14
Historical Life Expectancy Historical Life Expectancy
Write equation for each function Write equation for each function
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Video: Morphology of a tomato plant

For a complete list of videos, visit our video library