Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 360 units that cost $65 each. During the month, the company made two purchases: 540 units at $68 each and 270 units at $70 each. Chess Top also sold 900 units during the month. Using the average cost method, what is the amount of ending inventory

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be

Wren pork company uses the value basis of allocating joint costs in its production of pork products. relevant information for the current period follows: product pounds price/lb. loin chops 3,000 $ 5.00 ground 10,000 2.00 ribs 4,000 4.75 bacon 6,000 3.50 the total joint cost for the current period was $43,000. how much of this cost should wren pork allocate to loin chops?

Arecession is defined as a period in which