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2 years ago

Which inventory costing method assumes that items in ending inventory are the most recently acquired?

1 answer:

4 0

The Last-In, First-Out (LIFO) inventory costing method assumes that items in ending inventory are the most recently acquired.

<h3>What is LIFO and FIFO methods of inventory?</h3>

LIFO refers to the Last In, First Out. LIFO is a method that assumes that the last unit that has been added in the inventory or more recently, will be sold first.

FIFO stands for First In, First Out. FIFO method assumes that the oldest unit of inventory that has been added first, would be sold first.

Basically, FIFO and LIFO accounting are the inventory costing methods used in managing inventory.

Learn more about LIFO and FIFO here:-

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Suppose that the public holds 50% of the money supply in currency and the reserve requirement is 20%. Banks hold no excess reser

astra-53 [7]

Answer: $2,400; $2,400

Explanation:

If a deposit of $6,000 is made, the reserve requirement is 20% so the bank will have to reserve this amount of:

= 6,000 * 20%

= $1,200

The bank will be left with:

= 6,000 - 1,200

= $4,800

The bank lends all of this out.

The public holds 50% of the currency so they will keep:

= 50% * 4,800

= $2,400

The rest - which is $2,400 - will be deposited as checkable deposits.

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3 years ago

Activity rates from Mcelderry Corporation's activity-based costing system are listed below. The company uses the activity rates

Naddik [55]

Answer:

b) 2,388.22

Explanation:

Activity Cost Pool Activity Rates Activity Overhead cost

Processing customer 49.87 per order 10 498.7

orders

Assembling products 2.88 per assembly hour 580 1670.4

Setting up batches 18.26 per batch 12 <u> 219.12</u>

Total Overhead cost assigned <u>2,388.22</u>

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3 years ago

Why do we use a plug key in the circuit?<br>

madam [21]

Answer:

we use a plug key in the circuit because to avoid from the electric shock ...

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3 years ago

The _______ of performance scores makes obtaining a significant validity coefficient more difficult with a concurrent validity d

LUCKY_DIMON [66]

What does the answers mean?

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3 years ago

A concept test is an in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure tha

Vedmedyk [2.9K]

A concept test is an in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure that the final product meets all the needs expressed in the original product plan is given below

Explanation:

1.Concept testing is validating your product concept with your target market prior to launch.

3 Steps To Build An Effective Concept Test

Step 1: Choose your test methodology. ...

Step 2: Design and field your study. ...

Step 3: Identify the most promising product concept.

2.Ways of measuring customer satisfaction include:

Survey customers. ...
Understand expectations. ...
Find out where you are failing. ...
Pinpoint specifics. ...
Assess the competition. ...
Try to measure the emotional aspect. ...
Loyalty measurement. ...
A series of attribute satisfaction measurement.

3.A company's success lies in its ability to offer products and services that fill customer demand. Measuring customer satisfaction helps you take stock of that demand, find out what your customers like, and maybe even discover what they don't like and what leads to dissatisfaction.

4.The 5 Biggest Challenges in Measuring Customer Satisfaction

Reducing the financial impact of customer dissatisfaction. ...
Controlling the cost of customer acquisition. ...
Highlighting what is most attractive about your company's image. ...
Reinforcing the relevance of your approach to continuous improvement. ...
Improving the efficiency and the adequacy of your offerings.

5.A product concept is a detailed description of an idea, which you describe from the perspective of your customer. Taking your customers' viewpoint when describing your product concept will help you test and evaluate how responsive your market will be to your product.

6.The major purpose of concept testing is to evaluate the ideas in a better way. This is done to determine the buying intentions and attitudes of the customers towards the product. The main idea is to determine the initial reaction of the customers for the product idea.

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3 years ago