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Crank
4 years ago
6

Morgan Industries is comparing and contrasting its ending inventory value in terms of the three common inventory costing methods

in order to help management determine the most appropriate method to use. The company determines three values, which are $96,000, $100,000, and $105,000. If management determines that $100,000 is the most appropriate value for its ending inventory, what inventory cost method has it most likely chosen?a. middle of cost or market method. b. weighted average inventory cost method. c. LIFO inventory cost method. d. FIFO inventory cost method.
Business
1 answer:
Romashka-Z-Leto [24]4 years ago
4 0

Answer:

b. weighted average inventory cost method

Explanation:

the weithed average, FIFO and LIFO are the three most common nventory costing methods.

Weighted average method always is in middle ground between the FIFO and LIFO result.

The company has picked neither the lowest or higher, so it picked Weighted Average.

The reason for that, is that W-A as the name implies uses all the goods and calculate a new cost per unit, doing so is influence by the first unit (FIFO) and the last units (LIFO) This makes their valuation in the middle of these other two methods results.

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Mary has a few specific items she would like to leave to her sister, Ann. She would like to leave the balance of her estate to h
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Answer:

The residuary clause

Explanation: As Mary would like to leave the balance of her estate to her brother tom this will fall under the  residuary clause.

4 0
3 years ago
Suppose that, at a given level of disposable income, consumers decide to save more. Explain what effect this decision will have
-Dominant- [34]

Answer: decrease ; less saving

Explanation:As people attempt to save more, the result is both a decline in output and unchanged saving. Although people want to save more at a given level of income, their income decreases by an amount such that their saving is unchanged. As people save more at their initial level of income, they decrease their consumption. But this decreased consumption decreases demand, which decreases production. A change in autonomous spending has a different effect on output than the actual change in autonomous spending.

7 0
3 years ago
Read 2 more answers
Which factors may influence a company's choice of inventory cost flow assumption?
Oxana [17]

inventory cost flow assumption influence by tax implications of choice ,financial statement effect, actual physical flow of inventory.

<h3>What Is Cost Flow?</h3>

The way or channel that costs move through a company is referred to as the flow of costs. The flow of costs typically pertains to manufacturing businesses where accountants are required to quantify expenses associated with raw materials, work in progress, finished goods inventory, and cost of goods sold.

Four commonly acknowledged methods—specific cost, average cost, first-in, first-out (FIFO), and last-in, first-out—are available for allocating expenses to ending inventory and cost of goods sold (LIFO).

To know more about Cost Flow visit:

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7 0
1 year ago
Nicole owns and operates two restaurants. The revenue of the first restaurant at time t is f(t) dollars, and the revenue of the
kati45 [8]

Answer:

F(t)=f(t)+g(t) represents the TOTAL revenue at time t.

Explanation:

f(t) is the revenue at the time t at the first restaurant.

g(t) is the revenue at the time t at the second restaurant.

If we want to know the TOTAL revenue at the time t, we would sum these quantities:

TOTAL revenue = f(t)+g(t)

So F(t)=f(t)+g(t) represents the TOTAL revenue at time t.

7 0
3 years ago
One common problem with the current ratio is that it is susceptible to "window dressing." If prior to the end of the accounting
kaheart [24]

Answer:

c. pay off accounts payable prior to year-end.

Explanation:

The current ratio refers to the relationship between the current assets and the current liabilities

The formula to compute is as follows

Current ratio = Current assets ÷ current liabilities

It is a liquidity ratio that represents the liquidity of the company

Now for improving the current ratio first the company pay off the account payable before the year ending as it automatically reduced the balance of account payable

Hence, the correct option is c.

7 0
3 years ago
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