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saul85 [17]
2 years ago
6

LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba

lance sheet.
Business
1 answer:
Tasya [4]2 years ago
3 0

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

To learn more about LIFO, please check: brainly.com/question/13779572

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The credits and deductions of the company are passed through to partners to file on their individual tax returns. Credits and de
kirill [66]

Answer: The Limited Liability Company enjoys this benefit.

Explanation:

A Limited Liability Company is a hybrid organization that combines the features of a corporation with those of a partnership or sole proprietorship.

The credits and deductions of the company are passed through to partners to file on their individual tax returns.

Credits and deductions are divided by the percentage of individual interest each partner has in the company.

Unlike shareholders in a corporation, LLCs are not taxed as a separate business entity. Instead, all profits and losses are “passed through” the business to each member. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would.

5 0
3 years ago
A change in price will lead to a change in __________ and to a change in __________, while a change in government subsidies will
Sauron [17]

Answer:

quantity demanded; quantity supplied; supply; demand

Explanation:

When there is a change in price of goods, this change will lead to quantity demanded and it will also lead to a change in the quantity supplied. According to the law of demand, an increase in price will lead to a decrease in quantity demanded and vice-versa.

When there is a change in government susidies, this change will lead to a change in supply, and a change in the number of buyers will lead to a change in demand.

Therefore, the correct statement is:

A change in price will lead to a change in quantity demanded and to a change in <em>quantity supplied,</em> while a change in government subsidies will lead to a change in supply and a change in the number of buyers will lead to a change in demand.

7 0
3 years ago
Rent-to-buy (RTB) rents medical equipment to its customers offering them the option of converting rentals into eventual purchase
notsponge [240]
1. 450. The second question is confusing.
8 0
3 years ago
True true or false increasing RAM, a computer's CPU can process more quickly
Airida [17]
This would be a true statement

5 0
3 years ago
There are not enough of four goods to satisfy the wants of people. For good A, this is true when the price is $100. This is true
Elena L [17]

Answer:

d. D

Explanation:

Shortage occurs when the quantity demanded is greater than the quantity supplied while scarcity is a naturally occurring limitation in supply. For goods A, B and C, the quantity demanded at the given prices is greater than the supplied, which means that an increase in price could potentially decrease demand and eliminate the shortage. As for good D, there is not enough of it to satisfy the market at any price, which means that the good is scarce.

The answer is d. D.

8 0
3 years ago
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