How is alphabetizing a list of customer names an example of creating information

When LIFO is used with the periodic inventory system, cost of goods sold is assigned costs from the most recent purchases at the

bija089 [108]

Answer:

False

Explanation:

The assertion is false that when LIFO is used with the periodic inventory system, cost of goods sold is assigned costs from the most recent purchases at the point of each sale, rather than from the most recent purchases for the period.

Under this method it is at the end of the accounting year that the Inventory account is adjusted to equal the cost of the merchandise that is unsold.

It is important to note that under LIFO periodic (not LIFO perpetual) we wait until the entire year is over before assigning the costs. Then we flow the year's last costs first, even if those goods arrived after the last sale of the year.

4 0

3 years ago

Sam’s Auto Shop services and repairs a particular brand of foreign automobile. Sam uses oil filters throughout the year. The sho

Sindrei [870]

Answer:

The EOQ is 353 units

Explanation:

The economic order quantity or EOQ is the quantoty that minimized the holding and ordering cost for invetory.

The formula for EOQ is,

EOQ = √(2*D*O) / H

Where,

D is the annual demand in units
O is the ordering cost per order
H is the holding cost per unit per annum

The annual demand of oil filters by Sam is,

Annual demand = 52 * 150 = 7800 filters

The EOQ for Sam Auto Shop is,

EOQ = √(2*7800*16) / 2

EOQ = 353.27 Units rounded off to 353 units

3 0

3 years ago

Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be e

iren [92.7K]

Answer:

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

Explanation:

Indication for the revenue account title and amount for each transaction

a. Since we were told that Subscription will begins in next fiscal this means that Revenue amount will be earned when subscription begins in the next fiscal year.

b. Annual interest = $1,500

Interest revenue earned in September = 1,500 / 12

Interest revenue earned in September = $125

c. Based on the information given the amount of Revenue to be recognized for cash equivalent sales value will be $32,000

d. Since we were told that PVH has just received the order in the month of September this means that no revenue can be recognized.

e. Revenue to be recognized = 1,000 * $16

Revenue to be recognized = $16,000

f. Bssed on the information given the revenue amount has already been recognized when the order made is satisfied.

g. Based on the information given the payment that was made is for travel in January which means that revenue is to be recognized only when travel takes place. Hence, No revenue will be recognized in September.

h. Based on the information given the Issue of common stock will not be a sales transaction.

i. Based on the information given the amount of Cash received in the month of September is Únearned revenue reason been that revenue will be recognized l when football game is been played.

j. Based on the information given out of 7 games, first game is played, which means that the Revenue amount to be recognized will be :

Revenue= 70,000,000/ 7

Revenue = $10,000,000

k. Based on the information advance amount for future construction was received which is 'Unearned Revenue' therefore No revenue is earned yet.

l. Since It is sales on account the evenue to be recognized will be the amount of $96,000

m. Revenue to be recognized will be the amount of $300 because payment was made through credit card

Therefore the summary of Revenue account affected and Amount of Revenue earned in September is :

Revenue account affected; Amount of Revenue earned in September

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

.

6 0

3 years ago

A test contracting firm has agreed to create a three part social studies test intended to measure sixth graders knowledge of geo

sertanlavr [38]

Answer: Internal consistency

Explanation:

In discipline such as research and statistics, internal consistency is referred to as or known as typically or usually a measure that is based on correlations in between different variable and items particularly on a same test or maybe on sub-scale on the larger test. It tends to measure whether variables and items that measure same construct do produce the similar scores.

6 0

3 years ago

Read 2 more answers

As a babysitter, what are three things you should consider from a business perspective?

natta225 [31]

Answer:

Explanation:

Reliability. You want a sitter who respects the babysitting job – and your time enough to show up on time, preparedness. Good sitters come to work with ideas on what to do while they're with your kids, such as games, crafts or other activities, Experience, Ability to take charge

6 0

2 years ago

Read 2 more answers