The gross profit method of inventory valuation is not valid when a. there is substantial increase in the quantity of inventory during the year. b. there is substantial increase in the cost of inventory during the year. c. the gross margin percentage changes significantly during the year. d. all ending inventory is destroyed by fire before it can be counted.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The gross profit method of inventory valuation is not valid when a. there is substantial increase in the quantity of inventory during the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Alison owns a coffee shop in a small city in which there are many similar establishments. she advertises that her coffee is the best in town because the coffee beans she roasts are fair trade certified, shade grown, and organic.
Answers (1)
How do governments promote competition in the marketplace? A. by passing antitrust laws B. by outlawing oligopolies C. by outlawing monopolies D. through government regulation of firms
Answers (1)
A manufacturer of tiling grout has supplied the following dа ta: Kilograms produced and sold 420,000 Sales revenue $ 1,890,000 Variable manufacturing expense $ 948,000 Fixed manufacturing expense $ 242,000 Variable selling and administrative
Answers (1)
When you need evidence to make a decision, turn to a. the literature b. use cost-effective analysis c. use cost-benefit analysis d. use cost-minimization analysis
Answers (1)
Job seekers often spend a large amount of time writing their résumés and neglect to write quality cover letters. true or false
Answers (1)
New Questions in Business
Every decision should be thoroughly considered using a decision-making process. True or False
Answers (1)
The following are budgeted dа ta: January February March Sales in units 15,200 20,400 18,200 Production in units 18,200 19,200 17,100 One pound of material is required for each finished unit.
Answers (1)
All of the following are associated with reporting controllable costs except:a. At lower levels, management have fewer controllable costs. b. Lower-level managers are responsible for detailed costs and so receive detailed reports. c.
Answers (1)
Jake can complete an oil change in 45 minutes and he can write a poem in 90 minutes. Ming-la can complete an oil change in 30 minutes and she can write a poem in 90 minutes.
Answers (1)
Samantha, a one-third partner, has an adjusted basis of $90,000 for her partnership interest. If Samantha sells her entire partnership interest to Emma for $100,000 cash, what is the amount and character of Samantha's gain or loss from the sale? a.
Answers (1)