Answer:
$208
Explanation:
Using the FIFO Inventory method, inventory items are assumed to be sold in the order in which they were purchased from the earliest to the latest.
The order of purchase of the inventory items are.
Jun. 1, DVD Player 1012, $113
Nov. 1, DVD Player 1045, $95
Nov. 31, DVD Player 1056, $88
Therefore, if two of the three items are sold, the cost of goods sold is the cost of the first two items purchased
= 113 + 95 = $208.
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A sentece that was forshowdowing was
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Answer:
Engineering Wonders' net cash flows from operating activities are $61.8 million
Explanation:
Net income from operating activities = net income - gain on the sale of land + building depreciation expense = $56.0 - $1.4 + $4.6 = $59.2 million
Engineering Wonders' net cash flows from operating activities = Net Income from operating activities + Decrease in Accounts Receivable + Decrease in Inventory - Decrease in accounts payable = $59.2 + $1.6 + $3.6 - $2.6 = $61.8 million
Answer:
c) lost-horse forecasting.
Explanation:
According to my research on different types of forecasting methods, I can say that based on the information provided within the question the method being used in this situation is called lost-horse forecasting. This refers to using a value as a base, then analyzing all the factors and how they can affect the base value before making a final forecast. This is what the marketing manager is doing by using the known total in 2018 as a base and adjusting for different factors before making a sales forecast for 2021.
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Answer and Explanation:
The type of adjustment and the status of accounts before the adjustment is shown below:-
Type of adjustment Accounts before adjustment
(a) Accrued revenues Assets understated
Revenues understated
(b) Prepaid expenses Assets overstated
Expenses understated
(c) Accrued expenses Expenses understated
Liabilities overstated
(d) Unearned revenues Revenues understated
Liabilities overstated
(e) Accrued expenses Expenses understated
Liabilities understated
(f) Prepaid expenses Assets overstated
Expenses understated
