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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

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3 years ago
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Answer:

A. The accounting department prepares a shipping report authorizing the shipment of goods

Explanation:

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According to the above, the response that shows an effective internal control over sales transactions is the A, since it establish a list of products authorized to ship, creating a control over the procedure avoiding errors that may appear.

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3 years ago
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marshall27 [118]
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7 0
3 years ago
Jasper Corp. has a selling price of $44, and variable costs of $25 per unit. When 14,600 units are sold, profits equaled $133,00
AURORKA [14]

Answer:

Break-even point in units= 7,600

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Giving the following information:

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