Turner Corporation Acquired Two Inventory Items at a Lump-Sum Cost

question 90

Multiple Choice

Turner Corporation acquired two inventory items at a lump-sum cost of $50,000.The acquisition included 3,000 units of product LF, and 7,000 units of product 1B.LF normally sells for $15 per unit, and 1B for $5 per unit.If Turner sells 1,000 units of LF, what amount of gross profit should it recognize?

• A)$1,875
• B)$5,625.
• C)$10,000.
• D)$11,875.

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Definitions:

Supportive Leadership

refers to a leadership style characterized by showing concern for followers' needs, encouraging their involvement in decision-making, and providing help and support to develop their potential.

Proactive Influence Tactics

Strategies or actions taken intentionally to affect or shape the behavior or attitudes of others in a desired direction.

Leader's Skill

Refers to the capabilities and competencies that enable an individual to lead, influence, and guide groups or organizations effectively.

Planning

A process of setting objectives and determining the actions required to achieve these goals.