Why might inventory be reported at sales prices (net realizable value or market price) rather than cost?

Which of the following is not a basic assumption of the gross profit method?

Find the critical t-value that corresponds to 90% confidence and n = 15.

What is a LIFO reserve?

A private opinion poll is conducted for a politician to determine what proportion of the population favors adding more national parks. How large a sample is needed in order to be 99% confident that the sample proportion will not differ from the true proportion by more than 5%?

Elkins Corporation uses the perpetual inventory and the gross method. On March 1, it purchased $50,000 of inventory, terms 2/10, n/30. On March 3, Elkins returned goods that cost $5,000. On March 9, Elkins paid the supplier. On March 9, Elkins should credit

For the structure shown, the most likely elements are X = _____ and Y = _____.

Smith is a weld inspector at a shipyard. He knows from keeping track of good and substandard welds that for the afternoon shift 5% of all welds done will be substandard. If Smith checks 300 of the 7500 welds completed that shift, what is the probability that he will find more than 25 substandard welds?

Net realizable value is

Where should goods in transit that were recently purchased f.o.b. destination be included on the balance sheet?