The _____________________ Method Is Used to Estimate the Value of Inventory

question 106

Short Answer

The _____________________ method is used to estimate the value of inventory that has been destroyed,lost,or stolen.

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Definitions:

Equity Method

A method of accounting for an investment in common stock by which the investment account is adjusted for the investor’s share of periodic net income and cash dividends of the investee.

Equity Method

An accounting technique used to record an investor's proportional share of the profits and losses of an equity-invested company.

Stock

Shares of ownership of a corporation.

Brokerage Commission

A fee charged by a broker for executing a transaction or providing specialized services.