1.What does inventory refer to?What does the cost of inventory consist of ?2.How is inventory is account for?3.What methods are usually used to assign the cost of inventory?4.Could you apply these methods into the actual practice?5.Can you understand the meaning of Short-term investment ...
aThe cost of inventory includes the cost of purchased merchandise, less discounts that are taken, plus any duties and transportation costs paid by the purchaser. If the merchandise must be assembled or otherwise prepared for sale, then the cost of getting the product ready for sale is considered...
What type of account does cost of goods sold fall under in accounting? How to calculate accounts receivable turnover How do you account for sale of assets on a cash flow statement? How do you report inventory on a balance sheet ...
Incidental costs often added to the costs of inventory include import duties, freight, storage, and insurance. a. True. b. False. Answer true or false: Generally, inventory cost would include all costs necessary to get goods ready for sale. ...
Using the specific identification method, what is the cost of the ending inventory? ? A.$1,800 B.$980 C.$1,457 D.$1,650 正确答案:D Chapter 7 Quiz 1 判断(2分) ?Internal controls include policies and procedures managers use to protect assets, ensure reliable accounting, promote efficient...
aOn the other hand, costs hide in inventory. Inventory shows an asset on a company’s balance sheet. Since company allocates fixed overhead to the finished unit level in absorption costing, until the company sells a unit, the cost does not show up as an expense, or cost of goods sold....
Under which method of cost flows is the inventory assumed to be composed of the most recent costs? A. average cost B. last-in, first-out C. first-in, first-out D. weighted average 相关知识点: 试题来源: 解析 :C 满分:2 分 正确答案:C...
aAccording to the accounting policy of the inventory, the inventories were measured at the lower of cost and net realisable value, provision for decline in value of inventories for inventories if the cost is higher than net realisable and the inventories is old and unsalable. 根据存货的记帐策略...
Focuses on the ways to re-engineer the supply chain management of businesses in New Zealand. Cost of inventory, storage and transport of products; Impact of supply chain on product cost; Impact of globalization on the production of products. INSET: Customers are capricious.Light....
(2) Materials were transferred from inventory for the construction of the new factory. The cost of these materials was RMB 90,000 and their selling price was RMB 100,000. (3) To finance the construction of the new factory, a loan of RMB 500,000 was borrowed from 1 January 2013 at an...