Exhibit 3-6
-Refer to Exhibit 3-6.If an increase in income causes the demand for good X to shift from D? to D?,then good X is
Definitions:
Retail Method
The retail method is an accounting technique used to estimate inventory value by converting the retail price of inventory to cost based on a cost-to-retail price ratio.
Estimated Inventory
An approximate valuation of inventory, used when an exact figure cannot be easily determined.
Retail Method
An accounting procedure for estimating the value of a store's merchandise by using the cost to retail price ratio.
Manufacturing Businesses
Companies that produce new products from raw materials through various processes, machinery, and operations.
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