skip to Main Content
The smarter way
to do assignments.

Please note that this is just a preview of a school assignment posted on our website by one of our clients. If you need assistance with this question too, please click on the Order button at the bottom of the page to get started.

P6-34A Accounting principles for inventory and applying the lower-of-cost-or-market value.
Some of M and T Electronics’ merchandise is gatherings dust. it is now December 31, 2015, and the current replacement cost of the ending merchandise inventory is $20,000 below the business’s cost of the goods, which was $100,000. Before any adjustment at the end of the period, the company’s Cost of Goods Sold account has a balance of $410,000.
1 Journalize any required enteries.
2. at what amount should the company report merchandise inventory on the balance sheet?
3. at what amount should the company report cost of goods sold on the income statement?
4. which accounting principle or concept is most relevant to this situation?


Clicking on this button will take you to our custom assignment page. Here you can fill out all the additional details for this particular paper (grading rubric, academic style, number of sources etc), after which your paper will get assigned to a course-specific writer. If you have any issues/concerns, please don’t hesitate to contact our live support team or email us right away.

How It Works        |        About Us       |       Contact Us

© 2018 | Intelli Essays Homework Service®

Back To Top