Determining Lower of Cost or Market Crane Company had the following inventory at December 31, 2017. Unit Price Quantity Cost Market Desks Model 9001 71 $190 $210 Model 9002 46 280 268 Model 9003 21 350 360 Cabinets Model 7001 121 60 64 Model 7002 81 95 88 Model 7003 51 130 126 a. Determine the ending inventory amount by applying the lower of cost or market rule to: 1. Each item of inventory. $Answer 53,982 2. Each major category of inventory. $Answer 55,018 3. Total inventory. $Answer 55,305

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.