Companies Have the Right to Establish Rules and Policies for Their

question 1

True/False

Companies have the right to establish rules and policies for their workplace, so long as those rules do not violate the law.

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Definitions:

Ending Inventory

The total value of all inventory a company has available for sale at the end of an accounting period.

Average Cost

A method of inventory costing that determines the cost of goods sold and ending inventory based on the weighted average cost of all purchases.

Gross Profit Method

A technique used to estimate the amount of ending inventory using the gross profit margin.

Net Realizable Value

The expected selling price in the ordinary course of business minus the estimated costs of completion and the costs necessary to make the sale.