ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 195

2) Assume in each case that the selling expenses are $8 per unit
and that the normal profit is $5 per unit. Calculate the limits for each
case. Then enter the amount that should be used for lower of cost or
market

3)

Purchased merchandise costing $2,500 with terms 2/10, n/30.

a)

Inventory = ???

b)

Payment was made thirty days after the purchase

4) A machine cost $221,400, has annual depreciation expense of
$44,280, and has accumulated depreciation of $110,700 on December