Southgate co. paid the in-transit insurance premium for consignment goods shipped to hendon co., the consignee. in addition, southgate advanced part of the commissions that will be due when hendon sells the goods. should southgate include the in-transit insurance premium and the advanced commissions in inventory costs?

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000

The adjusted trial balance for china tea company at december 31, 2018, is presented below:

What is difference between fiscal year and tax year? explain in the simplest way.