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1 year ago

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

1 answer:

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.

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What is an exchange rate? A. How much bonds are worth when they're exchanged with cash B. How much dollars are worth when they a

lidiya [134]

Hello!
The answer is

C. How much a currency is worth when it's exchanged with another country's currency.

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3 years ago

Which of the following is consistent with effective internal control over sales transactions?A. The accounting department prepar

JulijaS [17]

Answer:

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

Explanation:

Internal control over sales is part of the audit procedures for the sales and collection cycle. Its purpose is to control the entire sales process so that there is no alteration in the related activities or in the documents associated with them. This type of control establishes parameters to disaggregate the tasks in several people, creates verification mechanisms so that the products delivered will be those already registered and controls that the goods or services are only delivered to customers with a good credit score.

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

What car company has the slogan 'Built To Last'?

marshall27 [118]

GMC. Except GMC now also says "We are professional grade" as well

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2 years ago

What is not one of seven mistakes to avoid when managing processes?

Afina-wow [57]

Answer:

bankruptcy

Explanation:

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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

Explanation:

Giving the following information:

Selling price= $44

Unitary variable cost= $25

When 14,600 units are sold, profits equaled $133,000.

<u>First, we need to calculate the total fixed costs:</u>

Fixed costs= Total contribution margin - net income

Fixed costs= 14,600*(44 - 25) - 133,000

Fixed costs= $144,400

<u>To calculate the break-even point in units, we need to use the following formula:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 144,400 / (44 - 25)

Break-even point in units= 7,600

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3 years ago