Business, 13.05.2021 19:30 truelove9288

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match each description to the appropriate cost flow assumption.
FIFO
Weighted average
LIFO
Produces the highest ending inventory when costs are increasing
Produces the highest gross profit when costs are decreasing
Never results in either the highest or lowest possible net income
Assigns the same value to all inventory units

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 07:50

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?

Answers: 1

Answer

Business, 22.06.2019 11:10

An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value

Answers: 2

Answer

Business, 22.06.2019 21:40

Inventory by three methods; cost of goods sold the units of an item available for sale during the year were as follows: jan. 1 inventory 20 units at $1,800 may 15 purchase 31 units at $1,950 aug. 7 purchase 13 units at $2,040 nov. 20 purchase 16 units at $2,100 there are 18 units of the item in the physical inventory at december 31. determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: round your final answers to the nearest dollar. cost inventory method ending inventory cost of goods sold a. first-in, first-out method $ $ b. last-in, first-out method $ $ c. weighted average cost method $ $

Answers: 3

Answer

Business, 22.06.2019 23:00

The five steps to financial success a. five money myths b. five foundations

Answers: 1

Answer

You know the right answer?

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrec...

Questions