The cost of ending inventory and the cost of goods sold under each of the following methods: Under the LIFO method, Sales Less: Cost of Goods sold Gross Profit less: Selling, admin, depreciation Income before.
Final in, first out (LIFO) is a technique used to account for inventory. beneath LIFO, the expenses of the maximum recent products bought (or produced) are the primary ones to be expensed. LIFO is used most effectively inside the USA and governed via the commonly ordinary accounting standards (GAAP).
The LIFO method is used within the COGS (value of products sold) calculation while the fees of manufacturing a product or obtaining inventory have been growing. this will be because of inflation.
The ultimate-In, First-Out (LIFO) method assumes that the last unit to arrive in stock or greater latest is offered first. the first-In, First-Out (FIFO) approach assumes that the oldest unit of inventory is sold first.LIFO effects decrease internet earnings because the price of products offered is better, so there may be a decrease in taxable profits.” decreased tax legal responsibility is a key reason some organizations decide on LIFO.
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Answer:
The minimum price is $6.8
Explanation:
Giving the following information:
Crane Company incurred the following costs for 88000 units: Variable costs $528000 Fixed costs 392000 Crane has received a special order from a foreign company for 3000 units. There is sufficient capacity to fill the order without jeopardizing regular sales. Filling the order will require spending an additional $2400 for shipping.
Because it is a special order and there is unused capacity, we will not have into account the fixed costs.
Unitary cost= (528,000/88,000) + (2,400/3,000)= $6.8 per unit
The minimum price is $6.8
Answer:
$11,009
Explanation:
Calculation to determine The amount due on the maturity date
Amount due =10900 x .06 x 1/6 = $109 + $ 10900
Amount due=$11,009
Therefore The amount due on the maturity date is $11,009
Answer: rotate the bottom to the right, top to bottom and right to top
Explanation:
