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2 years ago

The inventory costing method that identifies each item in ending inventory with a specific purchase and invoice is the:______.

1 answer:

6 0

The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: Weighted average inventory method.

<h3>What is Weighted average inventory method?</h3>

The COGS and inventory amounts are determined using a weighted average in the Weighted Average Cost (WAC) technique of inventory valuation in accounting. The weighted average cost method divides the price of the items up for grabs by the quantity of them. Under IFRS accounting as well as GAAP, the WAC approach is acceptable. Beginning inventory value plus acquisitions are used to compute costs of products that are offered for sale.

The number of units a business can sell, or the total number of units in inventory, is determined by adding the beginning inventory in units plus the purchases in units.

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Answer:

d. $132,000

Explanation:

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3 years ago

Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

kenny6666 [7]

Answer:

Given that,

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When Petty Cash fund is reimbursed,

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3 years ago

During periods of decreasing costs, the use of the LIFO method of costing inventory will result in a lower amount of net income

gladu [14]

Answer:

b. False

Explanation:

LIFO stand for Last in First Out. This means LIFO inventory valuation is based on earlier goods purchased.

So, when costs are decreasing, they are affecting latter prices and this usually affect FIFO (First in First Out) not LIFO.

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3 years ago

adoni [48]

Answer:

1. $ 750

2. - $ 50

3. $ 600

4. $ 600

Explanation:

1. Using the data GDP = C+I+G+ (X-M)

GDP= $500 +$100 + $ 200 + ($50-$100)

GDP= $ 800 + (-50)

GDP = $ 750

2. NET EXPORTS = EXPORTS - IMPORTS= $ 50- $ 100= -$50

3. PCE= Consumption+ Private Domestic Investment= $ 500 + $ 100= $ 600

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