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Additional Case 12.2 Tri-State Shipping Employs 45 Workers. They Ship Commodities Across the Commodities

question 109

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Additional Case 12.2
Tri-State Shipping employs 45 workers. They ship commodities across the country. Until recently, they had only legally required benefits, but business has become very profitable and they can now offer their employees more benefits.
The average age of their employees is 50. Most employees have been there for more than 20 years, and the company prides itself on keeping workers. The majority of the jobs require heavy lifting or the operation of heavy equipment for loading and unloading trucks, trains, etc. Their workers' compensation tax has been running about 5% per year. They are in one of the lowest workers' compensation tax rate states, but TSS has had a lot of injuries. The lifting required and type of equipment used tends to result in a lot of sprained backs, mashed fingers, or bruised muscles. When workers are injured, they tend to heal quickly and return to work quickly.
Despite its reputation for keeping workers, the dock supervisor recently fired a 21-year old employee who had been with TSS for 12 months. Even though everyone liked him, the young man just couldn't learn his job.
-Refer to Additional Case 12.2.The young man who was fired is most likely:

Definitions:

Financial Statements

Reports that summarize the financial condition and operations of a business, including balance sheet, income statement, and cash flow statement.

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and the costs required to make the sale, used in inventory valuation and accounts receivable.

Merchandise Value

The total worth of goods held for resale by a retail or wholesale business, typically assessed at cost or market price.

Inventory Valuation

The method used to assign value to a company's inventory, including raw materials, work-in-progress, and finished goods, affecting cost of goods sold and net income.