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1 year ago

Snyder's-Lance is a leading snack-food company. The following note was contained in its recent annual report:

1 answer:

6 0

The reported ending inventory was $43,112 thousand. If FIFO were used exclusively, the ending inventory would have been $6,964 thousand higher than reported, or $50,076 thousand.

Inventory refers to all the items, goods, goods, and materials that a business holds for sale in the market to make a profit. Example: If a newsagent uses a vehicle to deliver newspapers to customers, only the newspapers are considered inventory. A car is treated as an asset.

The manufacturer has three types of inventory. There are raw materials (awaiting processing), work in process (processed), and finished goods (preparing for shipment). The LIFO method assumes that the most recently purchased inventory units are sold.

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3 years ago

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Answer:

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2 years ago

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Answer:

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3 years ago

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Answer: Hello There!.................

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Explanation:

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2 years ago

Which of the following is the correct order for the preparation of the listed budgets? A) Budgeted income statement, sales budge

konstantin123 [22]

Answer:

The correct option is C,sales budget, direct material purchases budget, budgeted income statement

Explanation:

Te correct order in preparing budgets is to first of all have a sales forecast based on information on previous years' sales figures as well as looking at the future economic outlook.

When sales forecasts are made based on educated guess,the sales budget is prepared using the most appropriate selling price per unit.

Thereafter,based on the number of units planned for sales,the required materials needed to accomplish the sales level is forecast,hence direct material purchases budget is prepared with informed unit cost of material.

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3 years ago