Forester company has five products in its inventory. information about the december 31, 2021, inventory follows. product quantity unitcost unitreplacementcost unitsellingpricea 800 $ 13 $ 15 $ 19 b 600 18 14 21 c 500 6 5 11 d 900 10 7 9 e 600 17 15 16 the cost to sell for each product consists of a 20 percent sales commission. the normal profit for each product is 30 percent of the selling price.required:1. determine the carrying value of inventory at december 31, 2021, assuming the lower of cost or market (lcm) rule is applied to individual products.2. determine the carrying value of inventory at december 31, 2021, assuming the lcm rule is applied to the entire inventory.3. assuming inventory write-downs are common for forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2.

Answers

Answer 1

This adjustment will decrease the value of inventory on the balance sheet and increase the expense on the income statement, reducing the company's net income.

Based on the information provided, Forester company has five different products in its inventory, with varying quantities, unit costs, unit replacement costs, and unit selling prices. To calculate the carrying value of inventory at December 31, 2021, we need to apply the lower of cost or market (LCM) rule.

To answer the first question, we need to determine the carrying value of each product individually by comparing the unit cost to the unit replacement cost and choosing the lower value. We then multiply the resulting value by the quantity of each product to arrive at the carrying value. After calculating the carrying value for each product, we add them all up to get the total carrying value of the inventory.

To answer the second question, we need to apply the LCM rule to the entire inventory. This means we compare the total cost of the inventory to the total market value of the inventory and choose the lower value. We then subtract the result from the total cost of the inventory to arrive at the carrying value.

For the third question, assuming inventory write-downs are common for Forester, we need to record an adjusting entry to decrease the inventory value by the difference between the current carrying value and the LCM value.

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Related Questions

the fram family has liabilities of $128,000 and assets of $340,000. what is their debt ratio? how do you assess this? quizlet

Answers

The debt ratio of the Fram family is 0.376, or 37.6%. Larger portion of their assets is funded by debt.

To calculate the debt ratio, you need to divide the liabilities by the total assets.


Step 1: Calculate the debt ratio.
Debt ratio = Liabilities / Assets
Step 2: Substitute the given values into the formula.
Debt ratio = $128,000 / $340,000
Step 3: Divide the liabilities by the assets.
Debt ratio = 0.376

The debt ratio indicates the proportion of a person or family's assets that are funded by debt. In this case, the Fram family's debt ratio is 0.376, or 37.6%. This means that approximately 37.6% of their assets are financed through liabilities.

Assessing this debt ratio involves considering several factors. A lower debt ratio typically suggests that the family has less reliance on borrowed funds and is in a more favorable financial position. On the other hand, a higher debt ratio may indicate higher financial risk, as a larger portion of their assets is funded by debt. It is important to assess the debt ratio in the context of the family's financial goals, income, and ability to manage their debt obligations.

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what happens if 2022 altima’s rear door alert is activated and the driver does not disable the alert after arriving at their destination?

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Based on automobile analysis, when 2022 altima’s rear door alert is activated and the driver does not disable the alert after arriving at their destination, "the horn will sound unless a rear door is opened or closed within a short interval."

The 2022 Altima vehicle is one of the latest exact vehicles made by the Nissan Manufacturer.

The vehicle is made and designed to give users a pleasant experience when driving.

It is also equipped with modern features and the latest specifications to make the driving seamless and more accessible.

Hence, in this case, it is concluded that the correct answer is "the horn will sound unless a rear door is opened or closed within a short interval."

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What is the effect of import restrictions on prices? They often cause prices to rise steeply and then drop. They cause prices to rise. They cause prices to drop. They usually do not have any lasting effect on price.

Answers

Answer:

They cause prices to rise.

The Chapter Management information System please solve in 60 minutes.
Case: Retail (Please take any type of retail. Please make your own data simulation)
Make sales predictions based on the Revenue Cycle to then be used as the basis for planning the purchase of raw materials/finished goods from the Expenditure Cycle. Perform an evaluation of the Operation/Production Cycle regarding the most sold products and how many in that month
Perform the following analysis
• Employees (from the sales department) with performance that needs to be improved, and how to improve the performance of these employees
Answer Components:
1. State the basic theory/principle you used in conducting the above analysis and explain why you used it
2. (Not mandatory) Create and include the BPMN of the process that is the object of your analysis.
3. Describe the information you will need to perform the above analysis and explain why
4. Mention the data you need to get the information you described in number 3, and explain why
5. Determine who is responsible for ensuring the smooth running of the process that is the object of your analysis and explain why
6. Describe and explain how you ensure that there are sufficient MCS (Management Control System) components for your analysis above
Question Your analysis and follow up plan The theoretical basis/principle chosen and the reasons
Information you need or generate in analysis
Required data from the above Information
The person responsible for the Implementation of your follow up plan The MCS( Management control system) component of your follow up plan Answer
Answer
Answer

Answers

The chapter management information system involves the use of technology to gather, analyze and report data that supports decision-making in organizations. This system helps in the collection of data from all the departments of the organization, which is used to make informed decisions on the future of the company.

The theory/principle used in conducting the analysis is the business process management (BPM) cycle. It involves identifying the business processes and their underlying dependencies, modeling the business processes, implementing these models into a technological infrastructure and continuously improving the models based on the analysis of their performance. This approach was selected because it provides a structured approach to analyzing business processes and identifying opportunities for improvement. Also, it is beneficial in determining the root cause of a problem in the business process, which is essential in finding the best solution.

To perform this analysis, the information needed includes sales data, employee performance data, and the production cycle data. Sales data will help in predicting the sales of goods and raw materials in the expenditure cycle. The employee performance data will be used to identify underperforming employees, and the production cycle data will help determine the most sold products and the number of sales in a month.

To gather this information, the company will need to have access to sales data, production data, and employee performance data. This data can be obtained from the company's financial records and databases. The person responsible for ensuring the smooth running of the process is the operations manager. This is because they are responsible for coordinating the various processes that make up the organization's operation.

To ensure that there are sufficient MCS components for the analysis, the company must ensure that the data is accurate and up to date. Also, the company should have proper data management policies that ensure that data is stored securely and is accessible only to authorized personnel. Finally, the company must have the right tools and technology to analyze the data and generate reports that will help in decision making.

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How a researcher knows what is topical within his or her subject and why it is important to know that

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The research topic that the researcher finds is interesting and hence, he becomes anxious to complete the research work to add value to existing gap.

The research's "what," or the subject to be examined, is provided by the topic. The researcher can locate the research in the literature by defining and identifying the "what" of the study. The drive to pursue an interest is personally generated by curiosity. You can concentrate interest by concentrating on accuracy and clarity.

You must select one study topic that can be thoroughly studied. Clearly define your bounds. Take into account this illustration of topic concentration. Try this question instead of "I am interested in why children are not succeeding": "What effect does comprehending specialised academic language have on accomplishment in the natural sciences for third-grade Hispanic second-language learners?"

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Identify the kind of selecting and advertising merchandise involved in the scenario.

Cart works in the apparels division of a departmental store. His job is to ensure that the apparels are selected as per the tastes of the customers.

He also has to factor in things like the weather, the age groups that the store caters to, and the changing styles in the market.

Carl in involved in the ______ .

Answers

Carl is involved in retail merchandising in this scenario.

What is Retail merchandising?

Retail merchandising refer to the various methods and techniques

companies make their goods and services available in their outlets or

stores.This is done to ensure that they make increased sales and profit.

The stores are usually arranged into several divisions and he helps to assist

customers make their choices depending on various factors such as:

WeatherAge groups Styles etc

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Answer:

retail merchandising

Explanation:

An appreciation in the value of the U.S. dollar against the British pound would tend to:
a) Discourage the British from buying American goods
b) Discourage Americans from buying British goods
c) Discourage U.S. tourists from traveling to Britain
d) Increase the number of dollars that could be bought with a pound

Answers

An appreciation in the value of the U.S. dollar against the British pound would tend to increase the number of dollars that could be bought with a pound.

When the U.S. dollar appreciates against the British pound, it means that the value of the dollar increases compared to the pound. This can lead to an increase in the number of dollars that can be purchased with a pound. This can be beneficial for Americans looking to travel to Britain or for British businesses that import goods from the United States.

However, an appreciation in the value of the U.S. dollar can also have negative effects. It can discourage British consumers from purchasing American goods as they become more expensive in pounds. This can negatively impact American businesses that export goods to Britain. Similarly, an appreciation in the value of the dollar can discourage American consumers from buying British goods, which can negatively impact British businesses that export to the United States.

In summary, an appreciation in the value of the U.S. dollar against the British pound can have both positive and negative effects on trade and tourism between the two countries.

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Which of the following is NOT considered personal information?

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can you reply to this with the options so i can answer ^^

in an economy with constant velocity, a real gross domestic product growth rate of 2 percent, an ex ante real interest rate of 3 percent, and a money supply that is expected to grow at 7 percent, the nominal interest rate would be percent.

Answers

The nominal interest rate would be 12%. Nominal interest rate is the percentage rate of interest that is quoted on a loan or deposit, without adjusting for inflation.

Nominal interest rate is the interest rate as it is stated, without any adjustment for the effect of inflation on the purchasing power of the money that will be received. It is the rate of interest that borrowers pay on loans and the rate of interest that depositors receive on savings and other deposit accounts.

To determine the nominal interest rate you can use this formula:

Nominal interest rate = Real GDP growth rate + Ex ante real interest rate + Expected growth rate of money supply

In this case:

Nominal interest rate = 2 percent + 3 percent + 7 percent

Nominal interest rate = 12%

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the federal reserve is reluctant to change the required reserve requirements because part 2 a. a bank may lose its excess reserves. b. it disrupts the banking system. c. a bank may end up having a run on deposits. d. the federal reserve does not want to decrease the money supply.

Answers

The federal reserve is reluctant to change the required reserve requirements because it disrupts the banking system and a bank may end up having a run on deposits. The Option B and C,

Why is the Federal Reserve hesitant to change required reserve requirements?

Changing the required reserve requirements can have significant implications for the banking system. It can disrupt the balance between the reserves held by banks and the loans they can make, potentially leading to financial instability.

Altering reserve requirements can create uncertainty among depositors, who may worry about the safety of their funds. This concern can trigger a "run on deposits," where customers rush to withdraw their money from banks further destabilizing the banking system.

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Eco Lawn Care Corp., a company that manufacturers environmentally friendly lawn care products, has been operating as a business for a year. The CEO, Markus, started his venture by deciding on the activities that would be involved and what his goals and objectives for the business were. He then started to recruit professional chemists and other personnel and grouped them according to their responsibilities. Every month Markus conducts a meeting where he brings attention to those who are doing good work and motivates everyone to achieve organizational goals. He also checks the daily productivity of each of the workers, monitoring them and providing training to those with low productivity. When Markus was deciding on the activities that would be involved in the business and establishing the goals and objectives, he was performing the ________ function of management.
A) planning.
B) organizing.
C) leading.
D) controlling.
E) decision making.

Answers

The act of deciding on the activities that would be involved in the business  and establishment of goals and objectives is a planning function of management

What is the planning function?

The planning function is a management function that involves establishing of goals and arranging them in logical order.

Hence, the act of deciding on the activities that would be involved in the business  and establishment of goals and objectives is a planning function of management

Therefore, the option A is correct.

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if lana fodor paid $825.80 on a $3,169.78 credit balance. what is the new balance

Answers

FODOR FOOT ODOR BOOOOOOM WORLD OF THE PROBLEM SOLVED

Explanation:

the balance is $2343.98

who are more energetic and outgoing, are perceived to be more "leader

Answers

It is important to note that personality traits such as energy, extroversion, and perceived leadership qualities can vary among individuals and are not exclusively determined by gender.

Leadership qualities can be exhibited by individuals of any gender, and there is no inherent difference in energy or extroversion based on gender alone.

The perception of someone being more energetic, outgoing, and possessing leadership qualities can be influenced by various factors such as individual personality, communication style, confidence, experience, and interpersonal skills. These factors, along with the context in which leadership is being observed or evaluated, can shape people's perceptions of leadership qualities.

It is essential to avoid making broad generalizations or assumptions about individuals based on their gender. Leadership qualities and abilities are diverse and can be found in people of all genders. It is more appropriate to focus on individual characteristics, skills, and behaviors when assessing someone's leadership potential or effectiveness rather than attributing these qualities solely based on gender.

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Please Help Me I Will Give Brainliest
Describe the relationship between USP and the marketing function.

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Answer:

In marketing, the unique selling proposition (USP), also called the unique selling point, or the unique value proposition (UVP) in the business model canvas, is the marketing strategy of informing customers about how one's own brand or product is superior to its competitors (in addition to its other values).

Explanation:

Google

Please mrk Brainliest

Which of the following are examples of career clusters? Select all that.apply

Answers

Answer:

governmental and public admiration and real estate

Explanation:

Answer:zcvn

Explanation:

Which function of money describes its ability to enable trade between
different people?
A. Store of value
B. Measure of value
O C. Standard of deferred payment
D. Medium of exchange

Answers

Answer:

D. Medium of exchange

Explanation:

A medium of exchange is any physical object used as a measure of value to facilitate the transfer of goods and services between sellers and buyers. A medium of exchange acts as a go-between in transactions. In modern trade, money is the most widely accepted medium of exchange.

Today, goods and services are given a monetary value. Trade becomes relatively easy as buyers and sellers know how much money is needed to complete a transaction.

Justify the statement, business is important human activity

Answers

Answer:

Actions that involve the production, distributionand consumption of goods and services at all levels within a society. Gross domestic product or GDP is one way of assessing economic activity, and the degree of current economic activity and forecasts for its future level can significantly impactbusiness activity and profits, as well as inflationand interest rates.The economic activity in the region was being analyzed by our team and we had concluded it would be great to enter the market.

There was some new economic activity going on in the area and it made me excited at the thought of new activities and opportunities.

You should try and follow all of the economic activity so that you know how it might affect your business.

Explanation:

Business is an important human activity that has allowed humans to survive better because it:

allows people access to goods and services - thanks to business, people are able to trade goods that they have for goods that they want thereby ensuring that human needs and wants are satisfied

is a source of income - engaging in business allows people to earn money that they can use to get things that they want either as employees or as owners.

For these two main reasons, we can conclude that business is important because the satisfaction of human needs and wants is paramount to the survival of our species.

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Which statement best explains why interest rates are impprtant when saving money? A lower interest rate allows someone's debt to grow more quickly The higher the interest rate the more cost to save money in a bank The higher the interest rate helps someone's money grow larger over time The lower the interest rate, the less it costs tk save money in a bank

Answers

Answer:

The higher the interest rate helps someone's money grow larger over time

Explanation:

Interest rate is the percentage earned by depositors on their deposit. For example, if a person save $200. If the interest rate is 10%, the person earns $20 on her deposit.

The higher the interest rate, the higher the growth in deposit.

For example if a bank offers a compound interest of 10% on deposit and another bank offers a compound interest of 20% on deposit.  If $200 is deposited, after 3 years, the total amount that would be had in each bank is

$200 x (1.1)^3 = $266.20

$200 x (1.2)^3 = $345.60

It can be seen that the amount after 3 years is higher at the bank with the higher interest rate

Which position in a business manages cash and cash equivalents?


-financial accountant
-controller
-cost accountant
-treasurer

Answers

Answer:

Financial Accountant

Explanation:

Type the correct answer in the box. Spell all words correctly.
Samantha is part of a project management team working on the initiation phase of a project. What is her team expected to do in this phase?
In the initiation phase, Samantha's team needs to clarify the project's _____
and justify it.

Answers

Answer:

Explanation:

Initiation phase is the first phase of a project management where  the project is evaluated to know the purposes it has to be done , how it will be done and the resources needed to execute it.

At this stage , Samantha's team has to clarify and justify the project's purposes and feasibility in order to know why it has to be done and also how it will be completed and its purpose achieved.

John Walters is comparing the cost of credit to the cash price of an item. If John makes an $100 down payment and pays $30 a month for 24 months, how much more will that amount be than the cash price of $655

Answers

And I don’t know if we can go get to church

-WILL GIVE BRAINLIEST-
How can a person harness the power of pre-commitment, for example, with their tax return?

Answers

Answer:

You would have to commit to your future self about tax returns.

Explanation:

People projected that adopting a commitment device, which allows them to commit to saving before receiving their tax refund, would boost savings.

What is tax refund meaning?

A tax refund is a payment issued to taxpayers who have overpaid their taxes due to employers withholding too much from their salaries.

According to the US Treasury, over three-quarters of taxpayers have too much money withheld, resulting in tax refunds.

Thus, people are more like to make long term judgement.

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Which are examples of marketing businesses? (Check all that may apply)
Pilot Truck Shop
Target
Kroger Grocery Store
Toyota Dealership

Answers

Answer:

toyota dealership

Explanation:

Calculate the number of elections constituting one
color of charge

Answers

The number of elections constituting one color of charge depends on the specific context and criteria for categorizing charges.

The number of elections constituting one color of charge depends on the specific context and criteria for categorizing charges. Without further information or clarification, it is difficult to provide an accurate calculation or answer to this question. If you could provide more details or specify the context of the question, I would be happy to assist you further in determining the number of elections constituting one color of charge.

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(2) An increase in a mutual fund’s load fee __________ the fund’s net asset value.

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An increase in a mutual fund's load fee decreases the fund's net asset value. A mutual fund's load fee is the sales charge or commission investors pay when they buy or sell shares of the fund.

These fees are meant to cover the expenses of the fund manager and are usually expressed as a percentage of the investment amount. The net asset value (NAV) of a mutual fund represents the total value of its assets minus any liabilities, divided by the number of outstanding shares.
When the load fee increases, the cost of buying or selling shares in the mutual fund becomes more expensive for investors. This increased cost can cause a decrease in the demand for the fund, leading to a lower net asset value. In other words, investors might be less willing to invest in a mutual fund with a higher load fee because it reduces their potential returns. Consequently, the fund's net asset value would be negatively impacted.
In summary, an increase in a mutual fund's load fee leads to a decrease in the fund's net asset value due to the increased cost of buying or selling shares and the potential decrease in demand for the fund.

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Which statement indicates the impact of globalization on the African farming community?

Answers

The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.

What is Globalization?

Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.

The complete image of the question is attached below.

The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.

Many of the international aggro-processing company that set up factory near the village in the hopes of obtaining easy and cheap labor. As a result of these factors, people's crop production has increased dramatically.

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Which statement indicates the impact of globalization on the African farming community?

bro r u kidding me smh

bro r u kidding me smh
bro r u kidding me smh

Answers

Answer: THATS SO F-U-C-K-I-N-G STUP.ID!!!!!!!!! HOW HARD IS IT FOR THEM TO GIVE YOU MORE TIME!!!!!!!!!

Explanation:

Answer:

But from the screenshot it seems like you spent alot of time on ur work, and they still give you an F and D?!  That's literally messed up. ur teachers should understand :/

a medical assistant is performing a review of items in a clinic's inventory. how should the assistant classify dressings and bandages for inventory purposes

Answers

The assistant should classify the dressings and bandages for inventory purposes as clinical supplies.

What is a dressing?

A dressing, also known as a pad or compress, is something that is placed on top of a wound to speed healing and keep it safe from further damage. Contrary to a bandage, which is typically used to hold a dressing in place, a dressing is intended to be in direct contact with the wound. Nowadays, self-adhesive dressings are common. The majority of the time, these products are only recommended for clean, dry, superficial wounds with little to no exudates. In addition, they can be utilised as additional dressings. The following serve as illustrations: cotton wool, gauze, lint, and adhesive bandages (plasters).

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Legal authorization by a brand owner to allow another company to "rent" its brand name for a fee is called

Answers

Answer:

The appropriate answer is "License agreement".

Explanation:

A written agreement only between various firms where a property owner allows perhaps another entity throughout accordance with a certain set of requirements called a license agreement.In so far as it has jurisdiction, the consequence including its license is to terminate or ease the ruling of conflict. It should be the presumption that perhaps the license should be a province of security.

Joanne runs a company that produces mattresses. Her fixed costs include electricity and labor. She recently increased the capacity of production, which increased these fixed costs. What has Joanne done to the production of her company?
Joanne has ____ the production.

Answers

Answer:

not sure but increased seems right

Explanation:

Because she increased the capacity of production which increased these fixed cost, then, she has decreased expected profit of the production.

What does increased Fixed cost do?

In production, any increase in fixed cost will increase total cost and will impct on level of profit which will decrease.

In conclusion, as she increased the capacity of production which increased these fixed cost, then, she has decreased expected profit of the production.

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Over the last 100 years, humans have made great strides in developing technologies that can forecast severe weather before it happens. however, despite the best scientific data and tools available, we are still sometimes surprised by weather. in 2015, an unexpected spring storm produced severe tornadoes in iowa. sometimeseven with computer models and satellite imagingtornadoes, hurricanes, and other severe storms cause unspeakable damage to communities. do you think humans will ever be able to forecast severe weather with 100% accuracy? what challenges do we face in developing technology that can do so? besides forecasting tools, what other technology is needed to prevent severe storms from causing disasters? do you think all countries have the financial capability to support the development and operation of these technologies? if not, do you think there is an ethical obligation for countries with more financial resources to help poorer countries access these technologies? What type of media is Pablo using when he posts his thoughts about an issueon a public website?A. Unbiased mediaB. Independent mediaO C. Mass mediaO D. All of the above I need Help please :( consider the atom with the chemical symbol ir with a mass number of 193. how many protons are in an atom of ir? Can some please answer these two questions? Which of the following is not correct for the pseudocode? Which area of the Middle East did the Hitties build a strong empire? one more! i have so much trouble finding x and y please help!!! (step by step preferably). . What is the difference between single and three phase AC supply? 7. What are the different types of gears? What are their advantages and disadvantages? 8. How to vary the mixing speed and direction? 9. How to avoid the splash from mixing? 10. How to ensure the easiness to assemble and disassemble? PLEASE HELP AND EXPLAIN WHY THIS IS MANDATORY!!!!!Which sentence is the BEST example of academic discourse?a. If the ERA wants to become part of the Constitution, it will have to get past the opposition this time.b. A lot of states ratified the new amendment right away.c. Theoretically, Virginia's decision would allow the ERA to go forward. _____ trabajas despus de la escuela.ITYoUsted Help please lol....i need to turn it by td Equationy = 3 + 2xWhat is the slope? Please help!!! Thank you! rue or false: when a tax is imposed on sellers, demand remains the same because the tax does not change any of the non-price determinants of demand. Research shows that continents move at an average rate of 2.3 cm peryear. Which two theories could be supported by this evidence?Raisin theoryExpanding Earth theoryContracting Earth theoryTheory of continental driftSUBMIT I need to find the angles of A, B, C, and D.I've had a seriously hard time with Circle Theorems, can anyone help? Question 4 of 10If two triangles are congruent, which of the following statements must betrue? Check all that apply.O A. The triangles have the same shape, but not the same size.B. The corresponding sides of the triangles are congruent.C. The corresponding angles of the triangles are congruent.D. The triangles have the same shape and size. what does a community contain that a population does not What is the perimeter of the rectangle below. Simplify your solution and write your solution in standard form. What are the possible limitations of the decision support system in a banking sector with examples and scenarios