Make a List of the Combination of Factors That Produced

question 75

Essay

Make a list of the combination of factors that produced the growth and industrialization of the American economy in the late nineteenth century. Then pick two factors that you think were especially important. Explain your choices.

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Definitions:

Inventory Valuation

The method used to assign a monetary value to a company's inventory, including raw materials, work-in-progress, and finished goods.

Retail Method

A method used to determine the value of the ending inventory using a cost-to-retail ratio. Often used for interim financial reports.

Ending Inventory

The aggregate value of products on offer for sale when an accounting period closes.

Estimated Cost

An approximation of the financial outlay that would be required to complete a project, procure goods, or carry out a service.