A Company Has the Following Per Unit Original Costs and Replacement

question 146

Multiple Choice

A company has the following per unit original costs and replacement costs for its inventory: Part A: 50 units with a cost of $5 and replacement cost of $4.50.
Part B: 75 units with a cost of $6 and replacement cost of $6.50.
Part C: 160 units with a cost of $3 and replacement cost of $2.50.
Under the lower of cost or market method,the total value of this company's ending inventory must be reported as:

• A)$1,180.00.
• B)$1,075.00.
• C)$1,112.50 or $1075.00,depending upon whether LCM is applied to individual items or the inventory as a whole.
• D)$1,112.50.
• E)$1180.00 or $1075.00,depending upon whether LCM is applied to individual items or to the inventory as a whole.

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Definitions:

HR Department

The division within a company that focuses on the recruitment, management, and direction of people who work in the organization, dealing also with issues such as compensation, performance management, and training.

High-Performance Work System

A strategic approach to organizational management that integrates practices and policies designed to enhance employee engagement, productivity, and competitiveness.

HRM

Stands for Human Resource Management, which involves managing people in organizations focusing on policies, systems, and practices.

HR Dashboard

A visual representation tool used in human resources to display key HR metrics and performance indicators in real time to aid decision-making.