Home
Ask a Question
About
Contact
Advertise
Sitemap

Accounting MCQ

Home
Marketing MCQ
Translate

Accounting MCQ Inventory Valuation of LCNRV & LCM Method What is the equation for calculating floor?

What is the equation for calculating floor?

Naim 22:44 Inventory Valuation of LCNRV & LCM Method

What is the equation for calculating floor?

Answer: Floor = NRV - Profit Margin

Learn More :

Share this

Share on Facebook Tweet on Twitter Plus on Google+

« Prev Question

Next Question »

If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.

Subscribe to: Post Comments (Atom)

Search your questions here...

Trending Questions

The Willsey Merchandise Company has budgeted $40,000 in sales for the month of December. The company's cost of goods sold is 30% of sales. If the company has budgeted to purchase $18,000 in merchandise during December, then the budgeted change in inventory levels over the month of December is:

The Willsey Merchandise Company has budgeted $40,000 in sales for the month of December. The company's cost of goods sold is 30% of sa...
The inventory cost was lower using FIFO than LIFO. If there is no beginning inventory, what direction did the cost of purchases move during the period?

The inventory cost was lower using FIFO than LIFO. If there is no beginning inventory, what direction did the cost of purchases move durin...
Brownstone Company's contribution margin ratio is 30%. If Brownstone's sales revenue is $100 greater than its break-even sales in dollars, its net income

Brownstone Company's contribution margin ratio is 30%. If Brownstone's sales revenue is $100 greater than its break-even sales in ...
An auditor compares information on canceled checks with information contained in the cash disbursements journal. The objective of this test is to determine that

An auditor compares information on canceled checks with information contained in the cash disbursements journal. The objective of this tes...
In a period of declining prices, the inventory method which tends to give the highest amount of costs of goods sold is

In a period of declining prices, the inventory method which tends to give the highest amount of costs of goods sold is A. Specific ise...
Inventories are usually written down to net realizable value

Inventories are usually written down to net realizable value A. Item by item B. By classification C. By total D. By segment Ans...
Revenue associated with gift card sales should be recognized:

Revenue associated with gift card sales should be recognized: A. When the gift card is sold. B. No later than the last day of the op...
A career in private accounting indicates:

A career in private accounting indicates: A) Working undercover for an organization such as the Federal Bureau of Investigation (FBI). B) Be...
Which of the following cost flow assumptions is used for inventory when an entity builds townhouses?

Which of the following cost flow assumptions is used for inventory when an entity builds townhouses? A. FIFO B. Specific identificati...
Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2011 include: beginning inventory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sales during the first six months totaled $490,000. The estimated inventory at June 30, 2011, would be:

Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2011 include: beginning inventory a...

Blog Archive

January (152)
October (1052)
October (151)
September (150)
May (149)
March (302)
February (141)
January (96)
October (15)
July (75)
June (126)
May (52)
April (21)
February (61)
November (40)
October (122)
September (206)
July (84)
June (79)
May (74)
April (6)
February (562)

Label

Accounting Accounting 200 Accounting 2000 Chapter 1 Accounting 2000 Chapter 18 Accounting 2000 Chapter 2 Accounting 2000 Chapter 3 Accounting 2000 Chapter 4 Accounting Chapter 10 Accounting Chapter 11 Accounting Chapter 12 Accounting Chapter 13 Accounting Chapter 14 Accounting Chapter 15 Accounting Chapter 16 Accounting Chapter 17 Accounting Chapter 18 Accounting Chapter 19 Accounting Chapter 20 Accounting Chapter 21 Accounting Chapter 23 Accounting Chapter 5 Accounting Chapter 7 Accounting Chapter 8 Accounting Chapter 9 Cost Accounting Cost Accounting Chapter 1 Current Liabilities and Contingencies Financial Accounting Governmental Accounting Intermediate Accounting Chapter 1 Intermediate Accounting Chapter 6 Inventory Cost Flow Inventory Valuation of LCNRV & LCM Method LCNRV Managerial Accounting Retail Inventory Method Shareholder's Equity

Powered by Blogger.

Copyright © 2015 Accounting MCQ | Term Of Service | Disclaimer | Privacy Policy | DMCA | Answer Key