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1 year ago

Inventory costing methods place primary reliance on assumptions about the flow of.

1 answer:

3 0

Inventory costing methods rely heavily on assumptions about the flow of costs. The most widely used inventory valuation method is the FIFO method.

FIFO (First-In, First-Out), LIFO (Last-In, First-Out), Specific Identification, and Weighted Average Cost are the 4 major Inventory costing methods. If your inventory costs are steady or increasing, LIFO is the better option. Businesses with bigger inventories and rising costs appreciate how LIFO reduces profits and taxes while increasing cash flow. If your inventory costs are decreasing, FIFO is the better option.

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To enable remarketing in google analytics, what must first be enabled?

WARRIOR [948]

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4 years ago

The following data were reported by a corporation: Authorized shares 24,000 Issued shares 19,000 Treasury shares 5,500 The numbe

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Answer:

13,500

Explanation:

Outstanding shares = issued shares - Treasury shares

19,000 - 5,500 = `13,500

Shares is a method through which firms raise capital.

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Outstanding shares are the total number of shares sold to investors

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3 years ago

In what accounts should the following items be classified? (a) Coins and currency. (b) U.S. Treasury (government) bonds. (c) Cer

Dimas [21]

Answer:

Explanation:

Cash: generally classify cash as a cuffent asset Cash conststs of coins, currency, and available on deposit at the bank Cash the most liquid of as*ts, is standard medium of exchange and fre basis for meas_wtng and accountmg for all other items

Cash quivalents: cash equivalents are short-term, highly liquid investments that are both readily convertible to known amount of cash.

Accounts Receivable: Receivables are clams held against customers and others for money, goods, or services

Short term investments: Investments for one year or less called as short-tem investments

Long-term assets: Long-term means more than one accounting cycle period

Items Accounts

a) Coins and currency Cash

b) U S treasury (government) bonds Cash equivalent

c) Certificate of deposit (matures in 5 months) Short term investment

d) Cash in a bank that is in receivership Account receivable.

e1) NSF check ( Returned with bank statement)(if uncollectible) A loss if uncollectible

e2) NSF check ( Returned with bank statement)(if collectible) Accounts receivables

f1) Deposited in foreign bank (exchangeability limited )(if not expendable) Other assets, if not expendable.

f2) Deposited in foreign bank (exchangeability limited )(if expendable) Cash if expendable for goods and services in a foreign country

g1) Postdated checks (if collection expected within one year) Short term investments

g2) Postdated checks (if collection expected within beyond year) long term investments

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3 years ago

Competition between the firms leads to greater marketing expenses. <br><br> a. True<br> b. False

ss7ja [257]

True. With competition in a market, firms have to compete to stay ahead of the others

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3 years ago

Johann, a well-known musician, agrees to give ten guitar lessons to Elton for $2,000. Nothing in the contract itself prohibits a

Softa [21]

Answer:

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Recall that,

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