FIFO inventory costing method generally results in the most recent costs being assigned to ending inventory.
Inventory costing also referred to as stock cost accounting is when groups assign expenses to merchandise. these fees additionally consist of incidental costs consisting of the garage, management, and market fluctuation.
Stock price control has many aspects, such as financing, device, labor, shielding measures, coverage, handling, obsolescence, losses via pilferage, and the possible value of selecting to deal with an inventory. these elements all integrate to create the full price of conserving inventory costs.
The inventory cost method consists of starting stock cost, ending inventory cost, and purchase expenses over a fixed time period. more succinctly, it seems like: stock cost = [beginning inventory + inventory purchases] - finishing stock.
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Answer:
1 dollar = 1.5 peso
Explanation:
An exchange rate denotes the value of one currency in terms of another currency. Exchange rates can be of two kinds, spot rate and forward rate.
Spot rate is the rate quoted by bank for buying or selling foreign currency as on today.
Forward exchange rate on the other hand represents rate quoted by bank today for buying and selling foreign currency on a future date.
<u>Given </u>: 1 unit of peso = 12 grains of gold
1 unit of US Dollar = 18 gains of gold
<u>To find</u> : 1 peso = ___ dollars
1 grain of gold = 
peso
similarly, 1 grain of gold = 
dollars
this means, 
it means 1 peso = 
or 1 peso = 
or 1 dollar = 1.5 pesos
Answer:
It should replace the equipment
Explanation:
continue replace Differential
Proceeds from sale - 8,500 8,500
Cost
purchase - -110,000 -110,000
cost savings (5 years) 115,000 115,000
Total cost - 5,000 5,000
Net - 13,500 13,500
Answer: Three items will appear being;
2. Sale of delivery truck at book value
5. Sale of a debt security held as an available-for-sale investment
6. Collection of loan receivable.
Explanation:
The Investment Section of the Cash Flow Statement contains activities related to investment such as the buying or selling of fixed assets and the buying or selling of other company stocks or bonds.
Out of the above therefore, there are 3 activities that would fall under this section of the Cash Flow Statement.
They are;
2. Sale of delivery truck at book value.
- This refers to the sale of a Fixed asset and as such it goes to the investment section.
5. Sale of a debt security held as an available-for-sale investment.
- As a debt security of another firm that was considered available for sale, this goes to the Investment Section as well.
6. Collection of loan receivable.
- Finally, collection of loan receivable means that the company loaned money to another company making it an investment related cash inflow as it is a long term Investment income source.
Answer:
1.) The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.
2.) With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.
3.) The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.
