Answer:
If Pernell Company had used the first-in, first-out (FIFO) inventory valuation method, their cost of goods sold (COGS) would have been $50,000 less during 2016.
Since the company uses the last-in, first-out method, its inventory value for 2016 was $50,000 higher than if it had used the FIFO method. This type of situations are common since the COGS tend to increase over time.
Answer: $2000
Explanation:
The net cash flow from operating activities shown on the statement of cash flows for the year ending December 31, Year 2 can be calculated below:
Revenue: = $9000 + $1000 = $10,000
Less: Expenses
Operating expenses: $4000
Accrued salary expenses: $4000
Total expense: $8000
Net income = Revenue - Expense
= $10000 - $8000
= $2000
Answer:
Structured interview
Explanation:
There are various ways to take an interview to access a candidate. Overall, the best and most used technique is to conduct a structured interview. A structured interview is based on standardised interview techniques, where an interviewer generally asks questions specifically related to the job, market and industry. So, this is an example of a structured interview.