Answer:
the entry to report this accounting change is in the attachment.
Explanation:
By moving from LIFO to FIFO, there's is going to be an increase in the value of inventory from of 30,000. That is $380,000 - $350,000.
The answer to this question is to make a journal entry. I have done this in the attachment.
Answer:
15.37%
Explanation:
Computation of the gross profit percentage
First step is to calculate the Gross profit using this formula
Gross profit = Net sales revenue - Cost of goods sold
Let plug in the formula
Gross profit= $134,700 - $114,000
Gross profit= $20,700
Now let determine the Gross profit percentage using this formula
Gross profit percentage = Gross profit / net sales revenue
Let plug in the formula
Gross profit percentage= $20700/ $134700
Gross profit percentage= 15.37%
Therefore Gross profit percentage is 15.37%
Answer:
Explanation: 2,3,4,5 I just did it
Explanation:
Yes, through buying all labor and plant content, engineering services etc., this will relate to GDP. Mind the meaning of yourself. The final market price of all finished products and services.
As well as yes, the gain would have been driven into GDP because it was part of the final volume of skateboards on the market.
And whenever the company spends it in new manufacturing, and the shareholders receiving a portion of the gain in dividend payments in goods and services find their way back to GDP.