Mogul company ships merchandise to ski outfit in a consignment arrangement. the arrangement specifies that ski outfit will attempt to sell the merchandise, and in return, mogul will pay to ski outfit a 15% sales commission on any merchandise sold. during the year, mogul ships inventory with a cost of $85,000 to ski outfit. by the end of the year, $64,000 of the merchandise has been sold to customers for a total of $90,200. what amount of inventory will mogul report at year end?
a. $0.
b. $5,200.
c. $12,750.
d. $21,000.

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

Turtle corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100 % variable expenses 75 50 % contribution margin $ 75 50 % the company is currently selling 5,600 units per month. fixed expenses are $194,000 per month. the marketing manager believes that a $5,300 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?

The stock of grommet corporation, a u. s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u. s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u. s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u. s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?