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Luden [163]
3 years ago
7

Because of a decline in market price in the second quarter, Petal Co. incurred an inventory loss, but the market price was expec

ted to return to previous levels by the end of the year. At the end of the year, the decline had not reversed. Petal accounts for its inventory using the LIFO method. When should the loss be reported in Petal’s interim income statements?
Business
1 answer:
Sonja [21]3 years ago
5 0

Answer:

In the fourth quarter only.

When the loss is probable and estimable, the expected loss must be recorded in full. This loss becomes such at the end of the fourth quarter. Therefore, the inventory must be valued on the year-end at the lower of cost or market, recognizing the loss at that time.

Explanation:

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Nikitich [7]

Answer:c

Explanation:

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4 years ago
The Fed threw a lot of money at the financial crisis in 2008 to unfreeze credit markets and encourage economic activity. As part
Vinvika [58]

Answer:

The actions of the Fed in 2009 are consistent with an expansionary monetary policy and this policy reduces or keeps interest rates low.

When the Fed bought that many government securities, they flooded the economy with $300 billion in cash. This cash would make its way into the pockets of people and into their bank accounts as savings.

With that many savings, banks would have much more money to loan out to people and as a result of this increase in the supply of loanable funds, interest would fall in order to entice people to borrow more of these excess funds.

3 0
3 years ago
The goal of _____ is to reduce costs and improve customer service, while at the same time reducing the overall investment in inv
Alisiya [41]

Answer:

Supply chain management

Explanation:

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3 years ago
The federal funds rate is
Ahat [919]

Answer:

D. the interest rate banks charge each other for overnight loans.

Explanation:

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5 0
3 years ago
In a command economy:_______
boyakko [2]

Answer:

Option d                      

Explanation:

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A command economy refers to the mechanism in which the government determines what products should be manufactured, how much should be manufactured and the value at which the products are offered for sale, rather than the free market.

Thus, from the above we can conclude that the correct option is D.

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3 years ago
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