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IrinaVladis [17]
3 years ago
9

Which inventory cost method offers income tax savings during periods of rising prices? a.Weighted average inventory cost method

b.FIFO inventory cost method c.Specific identification inventory cost method d.LIFO inventory cost method
Business
1 answer:
viva [34]3 years ago
8 0

Answer:

d. LIFO inventory cost method

Explanation:

Last in first out i.e LIFO inventory cost method refers to the valuation method wherein the last purchased inventory i.e the latest is issued out first.

Under this method, the inventory which is purchased recently is the first to be issued. So in event of rising prices, this would lead to issuing inventory purchased at recent prices i.e high cost first.

This would in turn raise the cost of production and reduce net income. Consequently this would lead to reduced taxes.

Thus, during periods of rising prices or inflation, LIFO offers income tax savings.

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Answer:

Part of the labor force and employed

Explanation:

After graduating from college, Yunis, age 22, started working for his parent's real estate business as an unpaid assistant. He works 25 hours a week helping manage rental units . In the Current Population Survey, Yunis is considered part of the labor force and employed. Although Yunis is not getting anything in return and he is working 25 hours a week but he still will be considered as the part of the labor force and employed because he is working in his own business and the money generated with his services will be coming to his own family, therefore, he will be considered as an employed man.

3 0
4 years ago
Carson company on july 15 sells merchandise on account to tayler co. for $2,000, terms 2/10, n/30. on july 20 tayler co. returns
julsineya [31]

The amount of cash received will be the net of discounts and sales returns.

Given,

the sales = $ 2,000

The sales return = $ 800

The discount will be allowed only if the payment is made within the discounts period i.e. 10 days. The sales were made in 15th July and Payment is made on 24th July, thus Carson company is eligible for the discount. The discount will be calculated on the sales net of returns

Net sales = $ 2,000 - $ 800 = $ 1200

Discount = 2 % X $ 1,200 = $ 24

The cash received = $ 2,000 - $ 800 - $ 24 = $ 1,176

5 0
3 years ago
XYZ stock price and dividend history are as follows:
Sedbober [7]

This answer was deleted by a Brainly Staff Member for violating our Terms of Service.

7 0
2 years ago
In 2020, Lindon Corp. reported a discontinued operations loss of $1,300,000, net of tax. It declared and paid preferred stock di
8_murik_8 [283]

Answer:

The earnings per share would drop by -$2.17 per share

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In this ,=-$1300000/600000shares

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3 years ago
Which activity best demonstrates the trait of responsibility?
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Which activity best demonstrates the trait of responsibility?

A. demonstrating accountability for your actions

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3 years ago
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