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aleksklad [387]
2 years ago
12

A company uses the dollar-value LIFO inventory method. At the end of 20X2 the cost index is 1.25 and the ending inventory at bas

e year cost is $360,000. If 20X2 beginning inventory at base year cost was $300,000, 20X2 ending inventory at dollar-value LIFO cost is:
Business
1 answer:
lana [24]2 years ago
5 0

Option A. 300000.

The four main ways to account for inventory are specific identification, first in first out, last in first out, and weighted average methods.

The retail inventory method is an accounting method used to estimate the value of a store's merchandise. The retail method provides the ending inventory balance for a store by measuring the cost of inventory relative to the price of the merchandise.

The FIFO method is the most popular inventory method because it's the one that most closely matches the actual movement of inventory for most businesses. This method assumes that the first products you acquired will be the first that are sold.

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Silver Mining is opening a new mineral extraction facility in the local town and will employ several thousand people. They have
TEA [102]

Answer:

Corporate Social Responsibility or CSR.

Explanation:

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Following are the generally accepted principles of CSR.

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5 0
3 years ago
When the government implements programs such as progressive income tax rates, which of the following is likely to occur? a. equa
kozerog [31]

Answer:

The correct answer is b. equality is increased and efficiency is decreased.

Explanation:

Progressive taxes are considered those in which the economic capacity of the person or the company is taken into account, that is: the higher the economic capacity the value to be paid for the tax increases. The objective of this type of taxes is that the payments made by people or companies are made proportionally to their income. Direct taxes are usually progressive.

An example of a progressive tax is the income tax, in the case of natural persons the value to be paid for this concept depends on the taxable liquid income.

8 0
3 years ago
Toby and Keith are planning to create and jointly own a company that will license their patented technology solely for royalties
Fantom [35]

Answer: Limited liability company

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The companies have the limited liability feature of the corporations while the profit distribution method depicts partnership structure.

In the given case, Toby and Keith wants to distribute profit among them and also do not want to raise any outside capital. Also they want limited liability in their organisation.

Hence a Limited liability company is an appropriate choice for them.

3 0
3 years ago
In periods of rising prices, what will lifo produce?.
Mrrafil [7]

Answer:

LIFO. usually results in a balance sheet valuation of inventory farthest away from its economic value. LIFO. would result in the highest after-tax cash flow in periods of rising prices and non-decreasing levels of inventory.

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