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

1 answer:

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

Zenda is a financial advisor for an investment company and also has a private bookkeeping business. She recently read about new

Marta_Voda [28]

I don’t know if they’re answer choices with this question, but I believe if she studies 10 hours on her financial investment, and 10 hours on her private bookkeeping business. She’ll have to Atleast study 4 hours on the client record keeping requirement. (hope this helps)

7 0

2 years ago

Read 2 more answers

In a _______, the majority of a nation’s land, factories, and other economic resources are privately owned by individuals or bus

katovenus [111]

In a market economy

8 0

3 years ago

4. Which profession helps to make certain the workplace is safe? What do people in this profession do?

balu736 [363]

Police or security
They help to protect and make sure everyone is safe

3 0

2 years ago

Read 2 more answers

Charmingbells inc. has been running into a loss gradually, but the board of directors are reluctant to shut the company down bec

Elena L [17]

The situation best outlines Competitive Failure. In financial aspects, advertise disappointment is a circumstance in which the portion of products and ventures isn't proficient. That is, there exists another possible result where no less than one individual might be improved off without exacerbating another person off.

6 0

2 years ago

Read 2 more answers

He contract that contains provisions for surface leases related to a property is the _____.

vfiekz [6]

The contract that contains provisions for surface leases related to a property is the Farm and Ranch contract.

A void contract is a contract that fails a validity test and is therefore not a contract. A void contract is a contract that initially appears valid but may be terminated by a party deemed to have interfered in some way.

After a reasonable period of time, the contract is considered accepted and can no longer be objected to. Other examples include real estate contracts, attorney contracts, etc. If a contract is concluded without the free consent of the parties, it will be considered a void contract.

A voidable contract is a formal agreement between two parties that can be made unenforceable for a variety of legal reasons, including Errors, Misrepresentations, or Fraud. Excessive influence or coercion.

Learn more about contracts here brainly.com/question/984979

#SPJ4

8 0

1 year ago