S&C, Inc Purchases $2,100 of Inventory with Shipping Terms FOB Olympia

question 97

Multiple Choice

S&C, Inc. purchases $2,100 of inventory with shipping terms FOB Olympia. The supplier is based in Seattle and S&C is based in Olympia. The shipping costs are $300. What is the cost of S&C's inventory?

• A)$2,100
• B)$2,400
• C)Either $2,100 or $2,400 is an acceptable amount to assign to inventory cost under GAAP.
• D)There is not enough information to calculate inventory cost.

Recognize the significance of financing methods on the alignment of voter benefits and costs in representative democracies.

Explain the implications of increased government activity on economic growth and rent-seeking behavior.

Understand the effects of constitutional rules and the shortsightedness effect on political decision-making and economic efficiency.

Analyze the rational-ignorance effect and its impact on voter behavior and information acquisition.

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Definitions:

Boundaryless Organization

A type of organization that seeks to eliminate the traditional barriers between departments as well as barriers between the organization and the external environment.

Virtual Organization

An organizational structure characterized by a network of remotely collaborating individuals or entities, often relying heavily on digital communication technologies.

Business Alliances

Strategic partnerships between businesses to leverage resources, knowledge, and market position.

Operating Needs

Essential requirements that must be met for an organization or system to function effectively and achieve its objectives.