Wakefield Company Uses a Perpetual Inventory System

question 61

Multiple Choice

Wakefield Company uses a perpetual inventory system.In August,it sold 2,000 units from its LIFO-base inventory,which had originally cost $35 per unit.The replacement cost is expected to be $45 per unit.The company is planning to reduce its inventory and expects to replace only 1,500 of these units by December 31,the end of its fiscal year.The company replaced 1,500 units in November at an actual cost of $50 per unit.
-Based on the preceding information,in the entry to record the replacement of the 1,500 units in November,Cost of Goods Sold will be debited for:

• A)$52,500.
• B)$22,500.
• C)$15,000.
• D)$7,500.

Relate specific organizational practices to the satisfaction of various levels of employees' needs according to Maslow's theory.

Recognize the importance of job nature and work satisfaction in motivating employees.

Explain the role of leadership in meeting employee needs and addressing motivation issues.

Distinguish between satisfied and unsatisfied needs and their impact on employee motivation.

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Definitions:

Economic Produced

The total value of all goods and services produced within an economy over a specific period.

Marketing Strategy

A comprehensive plan formulated to reach and persuade potential customers to buy a product or service over competitors.

Market Testing

A process where a product or service is tested in limited areas or groups to evaluate its market viability before a full-scale launch.

Prospective Consumers

Individuals who are potential buyers of a product or service but have not yet made a purchase decision.