1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
astraxan [27]
3 years ago
7

Knowledge Check 01 On January 1, Greenview Company adopted the dollar-value LIFO method. The inventory cost on January 1 was $11

2,000. On December 31, ending inventory had a cost of $136,400. The cost index for the year was 1.10. For what amount would ending inventory be reported
Business
1 answer:
Kamila [148]3 years ago
4 0

Answer:

Inventory to be reported is  125200

Explanation:

Adjust inventory to base year prices  

$136400/1.1=  124000

CURRENT YEAR LIFO LAYER  

$124000-$112000=  12000

Add the new lifo layer at end of period prices  

to prior year lifo inventory  

112000*1= 112000  

12000*1.1= 13200  

inventory to be shown 125200

You might be interested in
Which one of the following statements is not characteristic of mutual funds?
Arada [10]

Answer: Option A

Explanation: Mutual funds are introduced by the financial institutions in the market and are not financial institutions themselves.

These funds collect money from various different investors and pool them together to invest in securities of different companies. These funds are managed by the investment professionals who receive both fixed and variable fees depending on the performance of portfolio.

The portfolio is divided into shares and such shares are then sold into the stock market.

Hence from the above we can conclude that option A.

5 0
4 years ago
When liabilities increase, this means that the firm has borrowed money or received contributions from shareholders. Therefore, i
astraxan [27]

Answer:

The answer is true

Explanation:

Increasing Liabilities is increasing cash inflow. For example, if a firm borrows money from a bank, it increases its liabilities and also increases its cash account because the bank will credit the firm with the borrowed form.

Also, if shareholders contribution increase by way of funding the company, the cash is being injected into the firm, thereby increasing the cash reserves.

Therefore, the answer to the question is true.

5 0
3 years ago
What is business management.
erastovalidia [21]

Hope it helps yah (◕ᴗ◕✿)

6 0
3 years ago
Read 2 more answers
Suppose that workers from northern Minnesota, North Dakota, and Montana decide to emigrate to southern Canada. Refer to Scenario
irga5000 [103]

Answer:

c. The equilibrium wage will rise, and the equilibrium quantity of labor will fall

Explanation:

Because of the emigration of workers from the Northern Minnesota to Southern Canada, the equilibrium wage rates will rise and quantity of labor will fall.

This happens because the workers that left have already created a vacuum that will be eager to be filled by their employers who will be willing to increase wages for incoming workers to serve two purposes:

1. To entice them to work for the company and fill the vacuum

2. To try to make sure they stay and not leave another vacuum.

The reason the quantity of labour will fall is because of that vacuum created by the departed workers. It's this drop in labor that will make the equilibrium wages to increase.

7 0
3 years ago
Read 2 more answers
The pricing strategy used by companies manufacturing or selling designer apparel custom jewelry and exclusive paintings is refer
a_sh-v [17]

Answer : Premium Pricing.

Companies manufacturing or selling designer apparel, custom jewellery or exclusive paintings usually have a unique brand. These companies usually have their own signature brands that have a big competitive advantage. Hence they charge higher prices.

8 0
3 years ago
Other questions:
  • Margot's team uses an online calendar that links everyone's schedule and helps the team efficiently plan meetings, track RSVPs,
    9·1 answer
  • What is a consumer? A. Someone who buys goods or services B. Someone who manufacture goods C. Someone who sells goods and servic
    12·1 answer
  • . AEC Company issues common stock that is expected to pay a dividend over the next year of $2 at a stock price of $20 per share
    5·1 answer
  • _____ put(s) users in control so that they can create custom reports on an as-needed basis by selecting fields, ranges, summary
    5·2 answers
  • Assume you are about to graduate. How would you apply marketing principles to your job search? In what ways would you be able to
    6·1 answer
  • A man with ​$20,000 to invest decides to diversify his investments by placing ​$10,000 in an account that earns 5.2​% compounded
    7·1 answer
  • Graham has accepted an offer to do graduate work in the chemistry department at State University. The chemistry department offer
    15·1 answer
  • When unemployment is lower overall nationwide, this means that, in general, employees have more what?
    12·1 answer
  • If you calculate the cost of attendance (COA) at an institute of higher
    13·1 answer
  • Suppose that the six-month interest rate in the United States is 2%, while the six-month interest rate in Britain is 4%. Further
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!