BUS 251 Study Guide - Quiz Guide: Sales Taxes In Canada, Inventory Turnover, Perpetual Inventory

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 251
• Professor: Anne Mac Donald

Document Summary

In canada, inventory is always carried on the balance sheet at its net realizable value. Bus 251: chapter 7 quiz: true, false, a company has inventory that originally cost ,000. Given recent changes in the marketplace, the inventory will now be able to be sold for only ,000. Excerpts from the financial statements of george"s groceries ltd. for the year ending. Bob"s set their selling price to customers at a 50% mark-up on cost. Calculate the value of bob"s inventory at the end of june, assuming sales revenue of ,000 was recorded in june, and purchases of inventory were ,000 for the month: ,000, ,000, ,000, none of the above is correct. The following are the inventory records of fran"s fridges inc. for the month of may. The units sold, are all sold to customers at a selling price of . 00 per unit.