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Pie
3 years ago
13

Determine the cost of goods sold expense assuming kramer had used the lifo method instead of the fifo method.

Business
1 answer:
densk [106]3 years ago
4 0
<span>To determine the cost of goods sold (COGS) expense under the LIFO method, you start with the assumption that you have sold the most recent produced first, and work backwards. Generally, the formula for COGS expense is: Costs at the beginning of the year + Additional inventory cost during the year - Inventory at the end of the year</span>
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katovenus [111]

Answer:

Explanation:

Forecast usage = 50 %

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smoothing constant = 0.10

⇒ 50 + 0.10 (52 - 50)

⇒ 50 + 0.10 (2)

⇒ 50 + 0.2 = 50.20

8 0
2 years ago
Your aunt is thinking about opening a hardware store. She estimates that it would cost $400,000 per year to rent the location an
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Answer:

(B) What must be given up to acquire it

Explanation:

Opportunity cost, in a simple language, means trade-off or an income or savings that we need to forego.

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8 0
3 years ago
Lucas Co. has a job-order cost system. For the month of April, the following debits (credits) appeared in the general ledger acc
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Answer:

direct material charge = $8500

Explanation:

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April 30 finished goods =  200000

so balance is = finished goods - ( balance + Direct materials + Direct labor + Factory overhead )

put here value

balance =  200000 - ( 24000 + 80000 + 60000 + 54000 )

balance = 18000

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so direct material charge for job no 100 is

direct material charge =  manufacturing cost - applied cost - direct labour cost

direct material charge = 18000 - 4500 - 5000

direct material charge = $8500

5 0
3 years ago
A firm is productively efficient when:__________.
inna [77]

Answer:

Its is A

Explanation:

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3 years ago
Property taxes and fines represent which of the following classes of nonexchange transactions for government units? Group of ans
zepelin [54]

Answer:

B. Imposed Non Exchange Transactions

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6 0
3 years ago
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