1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
liraira [26]
1 year ago
6

the cumulative difference between reporting inventory at lifo rather than fifo is commonly referred to as the

Business
1 answer:
UkoKoshka [18]1 year ago
8 0

The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred to as the LIFO reserve

<h3>What is LIFO reserve?</h3>

Generally, LIFO reserve is an accounting term that represents the difference between the cost of inventory calculated using the first-in, first-out (FIFO) method and the cost calculated using the last-in, first-out (LIFO) method for the purposes of bookkeeping.

In conclusion, The LIFO reserve is a term that is widely used to refer to the accumulated discrepancy that results from reporting inventory using the LIFO method rather than the FIFO method.

Read more about LIFO reserve

at brainly.com/question/28146683

#SPJ1

You might be interested in
If lucinda has only $18 to spend and the price of kewpie dolls and the price of beanie babies are both $6, how many of each woul
Step2247 [10]
<span>Lucinda could buy either 2 kewpie dolls and 1 beanie baby, or 1 beanie baby and 2 kewpie dolls at $6 a piece if she has $18. Rationally, Lucinda would want at least one of each toy. Whether she went with the first or second option the amount she would spend would be as follows: $6Ă—3 toys=$18.</span>
6 0
3 years ago
The method of least squares was used to develop a cost equation to predict the cost of monthly equipment maintenance. The follow
lisabon 2012 [21]

Answer:

correct option is b. $200,000

Explanation:

given data

Intercept = 40,000

Slope = 20

machine hours X = 8000

to find out

what is the predicted cost of equipment maintenance for April

solution

we will use here least square equation that  will be

Y = intercept + Slope ×  X      ............................1

here Y is cost of maintenance  and X is maintenance hours

so put here value we get from equation 1

Y = 40000 +  ( 20 ×   8000 )

Y = 40000 + 160000

Y = 200000

so  predicted cost of equipment maintenance for April is 200000

correct option is b. $200,000

4 0
3 years ago
Which of the following government actions would represent the largest increase in physical capital?
Ivahew [28]

Answer:

Investment in hospitals and other health care facilities to modernize their operations.

Explanation:

6 0
2 years ago
The supply schedule is identical to the demand schedule at every price. b The quantity demanded is the same as the quantity supp
ale4655 [162]

Answer:

B, The quantity demanded is the same as the quantity supplied.

Explanation:

Because the quantity supplies must be at lest equal to the quantity demand, in order to satisfy the market and not lost it.

6 0
2 years ago
Fusaro Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year.
andrew-mc [135]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Fusaro Corporation uses a predetermined overhead rate base on machine-hours.

Estimated total fixed manufacturing overhead= $684,000

Estimated activity level= 40,000 machine-hours

Actual activity level 37,700 machine-hours

First, we need to calculate the predetermined overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 684,000/40,000= $17.1 per machine hour

Now, we can allocate the manufacturing overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 17.1* 37,700= $644,670

5 0
3 years ago
Other questions:
  • Janice works as a consultant for a tech company. In the past, the company has relied heavily on its toll-free line to sell new p
    6·2 answers
  • What is leadership management
    15·1 answer
  • Entrepreneurs' intentions are based on their perception of feasibility rather than someone else's impression of whether it is fe
    13·1 answer
  • If a company is concerned about lending money to a risky customer, which one of the following would it not want to do? Require t
    10·1 answer
  • A(n) _____ is central to individuals and organizations of all sizes and ensures that information can be shared across all busine
    13·1 answer
  • The tables show the utility Parker experienced from consuming varying quantities of waffles and pancakes. Assume that waffles co
    7·1 answer
  • London Company hired some students to help count inventory during their semester break. Unfortunately, the students added incorr
    7·1 answer
  • What is a stock?
    6·2 answers
  • In the market for pickled herring there are two competing producers: Abbas and Taste of Base. Both herring manufacturers have fi
    8·1 answer
  • The only accurate statement about consequentalism is:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!