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2 years ago

Contrast the effects of LIFO versus FIFO on reported assets (i.e., the ending inventory) when

1 answer:

ozzi2 years ago

5 0

LIFO and FIFO have opposite effects on the amount of inventory shown on the asset side of the balance sheet. Ending inventory is based on either the oldest unit price or the latest unit price, depending on the method used.

FIFO the ending inventory is calculated with the latest unit price, with LIFO the ending inventory is calculated with the oldest unit price. Therefore, when the price increases, the ending inventory reported on the balance sheet will be higher for his FIFO than for LIFO.

Conversely, if the price is falling, the closing inventory on the balance sheet will be higher in his LIFO than in FIFO.

Learn more about FIFO and LIFO brainly.com/question/13510592

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The three-legged Ork, a space creature from the universe Warhammer, wears 1 right shoe and 2 left shoes. Which set of market bun

denis23 [38]

Answer:

6 right shoes and 12 left shoes

Explanation:

That Ork needs 2 left shoes for every right shoe, to match the feet configuration.

So, we have to look into the possible answers, which offers a 2 to 1 ratio for the left shoes.

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No. Left-shoes ratio is 1.6 not the 2 we need.

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3 years ago

What were the goals of the truman doctrine and marshall plan?

Colt1911 [192]

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3 years ago

Kincaid Company provided consulting services of $2,500 to a customer who paid $1,300 and promised to pay the remainder next mont

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Answer:

B. Cash 1,300 Dr, Accounts Receivable 1,200 Dr, Consulting Revenue 2,500 Cr

Explanation:

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3 years ago

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3 years ago

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VladimirAG [237]

Answer:Please refer to the explanation section

Explanation:

The question is incomplete. We do not have the rate interest for both accounts. We also do not know how much is invested in each account. The question also has a typo, the question says "he invested some of it in an account that paid simple interest per year and invested the rest in an account that paid simple interest per year". We will make some assumption in order to provide a proper solution to this question

Assumptions:

Firstly we will assume he invested in a simple interest account and a compound interest account. assume

The total investment is $1000. $5000 is invested in each account.

Therefore the Present Value (PV) is $5000 for both accounts

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Future Value (Simple Interest) = P(1 + Rn)

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3 years ago

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