Questions
Splish Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

Splish Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit

1320

 1,600 $3.97 $3.72 $5.58 $0.43 $1.55

1333

 1,300 3.35 2.85 4.34 0.62 0.62

1426

 1,200 5.58 4.59 6.20 0.50 1.24

1437

 1,400 4.46 3.84 3.97 0.31 1.12

1510

 1,100 2.79 2.48 4.03 0.99 0.74

1522

 900 3.72 3.35 4.71 0.50 0.62

1573

 3,400 2.23 1.98 3.10 0.93 0.62

1626

 1,400 5.83 6.45 7.44 0.62 1.24


From the information above, determine the amount of Splish Company inventory.

The amount of Splish Company’s inventory

$enter the dollar amount of Splish Company's inventory

In: Accounting

Concord Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

Concord Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit

1320

 1,500 $3.36 $3.15 $4.73 $0.37 $1.31

1333

 1,200 2.84 2.42 3.68 0.53 0.53

1426

 1,100 4.73 3.89 5.25 0.42 1.05

1437

 1,300 3.78 3.26 3.36 0.26 0.95

1510

 1,000 2.36 2.10 3.41 0.84 0.63

1522

 800 3.15 2.84 3.99 0.42 0.53

1573

 3,300 1.89 1.68 2.63 0.79 0.53

1626

 1,300 4.94 5.46 6.30 0.53 1.05


From the information above, determine the amount of Concord Company inventory.

The amount of Concord Company’s inventory

$enter the dollar amount of Concord Company's inventory

In: Accounting

Blue Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

Blue Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit

1320

 1,500 $3.90 $3.66 $5.49 $0.43 $1.53

1333

 1,200 3.29 2.81 4.27 0.61 0.61

1426

 1,100 5.49 4.51 6.10 0.49 1.22

1437

 1,300 4.39 3.78 3.90 0.31 1.10

1510

 1,000 2.75 2.44 3.97 0.98 0.73

1522

 800 3.66 3.29 4.64 0.49 0.61

1573

 3,300 2.20 1.95 3.05 0.92 0.61

1626

 1,300 5.73 6.34 7.32 0.61 1.22


From the information above, determine the amount of Blue Company inventory.

The amount of Blue Company’s inventory

$enter the dollar amount of Blue Company's inventory

In: Accounting

Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit 1320 1,800 $3.58 $3.36 $5.04 $0.39 $1.40 1333 1,500 3.02 2.58 3.92 0.56 0.56 1426 1,400 5.04 4.14 5.60 0.45 1.12 1437 1,600 4.03 3.47 3.58 0.28 1.01 1510 1,300 2.52 2.24 3.64 0.90 0.67 1522 1,100 3.36 3.02 4.26 0.45 0.56 1573 3,600 2.02 1.79 2.80 0.84 0.56 1626 1,600 5.26 5.82 6.72 0.56 1.12 From the information above, determine the amount of Crane Company inventory. The amount of Crane Company’s inventory

In: Accounting

Stellar Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

Stellar Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit
1320 1,400 $3.30 $3.09 $4.64 $0.36 $1.29
1333 1,100 2.78 2.37 3.61 0.52 0.52
1426 1,000 4.64 3.81 5.15 0.41 1.03
1437 1,200 3.71 3.19 3.30 0.26 0.93
1510 900 2.32 2.06 3.35 0.82 0.62
1522 700 3.09 2.78 3.91 0.41 0.52
1573 3,200 1.85 1.65 2.58 0.77 0.52
1626 1,200 4.84 5.36 6.18 0.52 1.03


From the information above, determine the amount of Stellar Company inventory.

The amount of Stellar Company’s inventory

In: Accounting

Exercise 9-7 Sarasota Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...

Exercise 9-7

Sarasota Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit
1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33
1333 1,200 2.86 2.44 3.71 0.53 0.53
1426 1,100 4.77 3.92 5.3 0.42 1.06
1437 1,300 3.82 3.29 3.39 0.27 0.95
1510 1,000 2.39 2.12 3.45 0.85 0.64
1522 800 3.18 2.86 4.03 0.42 0.53
1573 3,300 1.91 1.7 2.65 0.8 0.53
1626 1,300 4.98 5.51 6.36 0.53

1.06

From the information above, determine the amount of Sarasota Company inventory.

The amount of Sarasota Company’s inventory

In: Accounting

E9.7 (LO 2) (Lower-of-Cost-or-Market) Wangerin Company follows the practice of pricing its inventory at the lower‐of‐cost‐or‐market,...

E9.7 (LO 2) (Lower-of-Cost-or-Market) Wangerin Company follows the practice of pricing its inventory at the lower‐of‐cost‐or‐market, on an individual-item basis.

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit
1320

1,200

$3.20

$3.00

$4.50

$0.35

$1.25
1333

900

2.70

2.30

3.50

0.50

0.50
1426

800

4.50

3.70

5.00

0.40

1.00
1437

1,000

3.60

3.10

3.20

0.25

0.90
1510

700

2.25

2.00

3.25

0.80

0.60
1522

500

3.00

2.70

3.80

0.40

0.50
1573

3,000

1.80

1.60

2.50

0.75

0.50
1626

1,000

4.70

5.20

6.00

0.50

1.00

Instructions

From the information above, determine the amount of Wangerin Company inventory.

In: Accounting

Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit

1320

 1,300 $3.23 $3.03 $4.55 $0.35 $1.26

1333

 1,000 2.73 2.32 3.54 0.51 0.51

1426

 900 4.55 3.74 5.05 0.40 1.01

1437

 1,100 3.64 3.13 3.23 0.25 0.91

1510

 800 2.27 2.02 3.28 0.81 0.61

1522

 600 3.03 2.73 3.84 0.40 0.51

1573

 3,100 1.82 1.62 2.53 0.76 0.51

1626

 1,100 4.75 5.25 6.06 0.51 1.01


From the information above, determine the amount of Crane Company inventory.

The amount of Crane Company’s inventory

Enter the dollar amount

$

In: Accounting

1) The loss of consumer benefits when a tariff imposed on imported consumer good is called:...

1) The loss of consumer benefits when a tariff imposed on imported consumer good is called: a) Consumer surplus
b) Net-welfare gain
c) Consumer deadweight cost
d) Producer deadweight cost

2) Which one is not true about countries of the world?
a) Only large countries involve in an international trade
b) Openness of countries to international trade vary between countries
c) Countries produce, exchange, and consume goods and services
d) Economic development of countries is little affected by the extent of their engagement in international trade
e) a and d

3) Suppose that Company Z in UAE imports 10,000 metric tonnes of orange from USA at a price of 1,500 US$ per tonne. If company Z pays specific import tariff of 0.25 Dirham per kilogram of orange, how much total tariff duty does the company pay?
a) 2, 500,000 US$
b) 15,000,000 US$
c) 2,500,000 AED
d) No answer is given

4) Consider two countries: P and Q. Both countries produce Rice and Chocolates. Country P needs 6 labour hours to produce 1 unit of Rice and 10 labour hours to produce 1 unit of Chocolates. Country B needs 15 labour hours to produce 1 unit of Rice and 5 labour hours to produce 1 unit of Chocolates. Which statement is true?
a) Country P has absolute advantage in Chocolates
b) Country Q has absolute advantage in Rice
c) Country P must specialize in production of Rice while country B in Chocolates
d) Neither country P and nor country Q has absolute advantage in any of the two
products

5) When the supply of a product matches with or equals to its demand in the market, we call this market situation:
a) a consumer surplus
b) a producer surplus
c) a market equilibrium
d) all of the above

In: Economics

UAE thinking of increasing import tariffs on Algerian products. which is NOT an import tariff Specific...

  1. UAE thinking of increasing import tariffs on Algerian products. which is NOT an import tariff
  1. Specific tariff
  2. Non
  3. Compound tariff
  4. AD valorem tariff

  1. UAE has allowed only 100000 cars from Japan to enter its territory. This type of barrier is called
  1. Quota
  2. Import tariff barrier
  3. Quota rate tariff
  4. Export tariff barrier

  1. UAE has applied NTBs on products coming from Algeria NTB is
  1. Non-tariff barrier
  2. Non terminal barrier
  3. Non
  4. Non-tariff blocade

4. UAE has decided to use quota on sugar that comes from India. What does it mean?

  1. Price of sugar will go up in UAE and the local producer of sugar will be a winner
  2. The price of sugar will go down in the UAE and the local producer of sugar will be a winner
  3. Non
  4. The price of cookies in UAE will go down

5. UAE has increased its import tariffs on bottle of water coming from abroad who is the lose?

  1. Employees of massafi
  2. The consumers who live in UAE
  3. All
  4. Al Ain water company

6. The company of Al Aghahia has opened a branch in Turkey in order to produce water there According to the concept of product life cycle this means that Al Aghdhia company product become

  1. Standardize product
  2. Non
  3. Mature product
  4. New product

7. UAE has a comparative advantage in producing Creamics but not in producing computers what this means that

In: Economics