Ask question

Ask question

All categories

1 year ago

8

Case D. Stewart Company reports the following inventory record for November:

1 answer:

worty [1.4K]1 year ago

5 0

The cost of ending inventory and the cost of goods sold under each of the following methods: Under the LIFO method, Sales Less: Cost of Goods sold Gross Profit less: Selling, admin, depreciation Income before.

Final in, first out (LIFO) is a technique used to account for inventory. beneath LIFO, the expenses of the maximum recent products bought (or produced) are the primary ones to be expensed. LIFO is used most effectively inside the USA and governed via the commonly ordinary accounting standards (GAAP).

The LIFO method is used within the COGS (value of products sold) calculation while the fees of manufacturing a product or obtaining inventory have been growing. this will be because of inflation.

The ultimate-In, First-Out (LIFO) method assumes that the last unit to arrive in stock or greater latest is offered first. the first-In, First-Out (FIFO) approach assumes that the oldest unit of inventory is sold first.LIFO effects decrease internet earnings because the price of products offered is better, so there may be a decrease in taxable profits.” decreased tax legal responsibility is a key reason some organizations decide on LIFO.

Learn more about LIFO here: brainly.com/question/24938626

#SPJ4

You might be interested in

Villalpando Winery wants to raise $35 million from the sale of preferred stock. If the winery wants to sell one million shares

statuscvo [17]

Answer:

(a) $4.2

(b) $5.6

(c) $2.8

(d) $2.45

(e) $2.1

(f) $1.05

Explanation:

Given that,

Total amount of capital raised from the sale of preferred stock = $35 million

Number of shares = 1 million

Price per share = Total capital raised ÷ Number of shares

= $35 million ÷ 1 million

= $35 per share

(a) If a Expected rate of return = 12 percent

Annual dividend = Price per share × Expected Rate of return

= $35 per share × 0.12

= $4.2

(b) If a Expected rate of return = 16 percent

Annual dividend = Price per share × Expected Rate of return

= $35 per share × 0.16

= $5.6

(c) If a Expected rate of return = 8 percent

Annual dividend = Price per share × Expected Rate of return

= $35 per share × 0.08

= $2.8

(d) If a Expected rate of return = 7 percent

Annual dividend = Price per share × Expected Rate of return

= $35 per share × 0.07

= $2.45

(e) If a Expected rate of return = 6 percent

Annual dividend = Price per share × Expected Rate of return

= $35 per share × 0.06

= $2.1

(f) If a Expected rate of return = 3 percent

Annual dividend = Price per share × Expected Rate of return

= $35 per share × 0.03

= $1.05

8 0

3 years ago

A(n) _____ is a person who organizes and starts a corporation, negotiates and enters into contracts in advance of its formati

Nutka1998 [239]

Answer: Promoters

Explanation:

A promoters is the person in an organization who start the corporate and manage the investors for the financial purpose. The promoters has ability to handle and also understand the actual requirement of the customers.

The main responsibility of the promoters is that they done all the necessary formalities regarding the organization investing registration and they also deal with the contracts in the business.

They also promote the company or organization by gain maximum project through the investing process.

6 0

3 years ago

Frictional unemployment occurs because in a world of imperfect information, it takes ________ for people to find jobs.

deff fn [24]

Because it takes<u> time</u> for people to find work in a society with poor information, frictional unemployment happens.

The unemployment that results from regular labor turnover, such as persons joining and leaving the labor force, as well as the continuous creation and destruction of jobs, is known as frictional unemployment. It comprises employees who are either looking for employment or holding out for a job soon.

Frictional unemployment has the following examples: employees looking for new jobs after quitting their existing ones, employees want to shift careers. Those looking for their first job after graduating from college or those starting their first career in the workforce.

To learn more about frictional unemployment

brainly.com/question/27108843

#SPJ4

6 0

2 years ago

Country A would have an absolute advantage compared to Country B in the production of corn if

viva [34]

Answer:

B) Country A uses fewer resources to produce corn than Country B does.

Explanation:

An absolute advantage is a situation where a country or a company can produce some goods and services using fewer inputs compared to competitors. The company can produce more quantity of using the same amount of inputs than others. A country with an absolute advantage will manufacture a product at a lower cost than other countries or companies.

Absolute advantage enables companies and countries to gain from trade. Through specialization, a company will focus on what it can produce at a lower cost than others, and sell it. Country A has an absolute advantage if it can produce corn at a lower cost than country B.

6 0

3 years ago

List at least two tips for using credit wisely

PIT_PIT [208]

Pay your balance each month and keep a limit

5 0

3 years ago

Read 2 more answers