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
Advocard [28]
2 years ago
9

The Tital Company adopts dollar-value LIFO inventory on 12/31/19 when its inventory at current price is $45,000. The inventory v

alue on 12/31/20 at current 2020 prices is $65,000. If prices increased by 30% during 2020, the dollar-value LIFO inventory at 12/31/20 will be:_______
a. $58,000.
b. $51,500.
c. $65,000.
d. $48,700.
Business
1 answer:
almond37 [142]2 years ago
7 0

Answer:

b. $51,500

Explanation:

The correct answer is $51,500 which is b.

$45,000 * 30% = $13,500

This amount is then deducted from $65,000

$65,000 - $13,500 = $51,500.

LIFO is method of calculating the value of inventory in which all the units are valued.

LIFO stands for Last In First Out, which means the unit purchased the last will be sold first. In case of rising prices of inventory LIFO gives lower profits due to higher costs being charged for the units sold against the sale price which lowers the profit ultimately.

You might be interested in
All of the following are benefits provided by monsoons in South and Southeast Asia, except __________. A. increased flooding B.
Aleonysh [2.5K]

The Correct answer is Increased Flooding which is Option A.

A flood is the accumulation of water over normally dry land. It’s caused by the overflow of inland waters (like rivers and streams) or tidal waters, or by an unusual accumulation of water from sources such as heavy rains or dam or levee breaches.

<h3><u>Why Increased Flooding is an exception and not a benefit?</u></h3>
  • Floods are the most common (and among the most deadly) natural disasters in India. They have brought destruction to every state and nearly every county, and in many areas they are getting worse. As global warming continues to exacerbate sea level rise and extreme weather.
  • This occurs when a river or stream overflows its natural banks and inundates normally dry land. Most common in late winter and early spring, river flooding can result from heavy rainfall, rapidly melting snow, or ice jams.

Increased Flooding is the only drawback of monsoons among other 3.

Following are the mentioned benefits.:-

B) The provision of needing water - there is enough amount of water.

C) Improved economy - Improvement of a greater economy.

D) Greater food Production - Monsoon helps in greater food production.

To know more about Flooding, check the given links.

brainly.com/question/12686086

#SPJ4

7 0
2 years ago
Which one of the following forms is used in connection with registration of securities of a small reporting company with $25 mil
ki77a [65]

Answer: S-1

Explanation:

According to the the securities and exchange commissions, the S-1 is the registration under the SEC act of 1933. Whereby a company file form S-1 in anticipation of IPO (initial public offering).The company must be small reporting company with $25 million of annual revenues and of $25 million of voting securities held by non-affiliates.

4 0
3 years ago
Warranty service, processing of complaints, and costs of litigation are examples of Multiple Choice appraisal costs. internal fa
zhannawk [14.2K]

Examples of internal failure costs include warranty service and complaint handling. As a result, choice b is accurate.

<h3>What do you mean by internal failure cost?</h3>

Internal failure costs are expenses related to flaws discovered prior to the client receiving the good or service. External failure costs are expenses related to flaws discovered after the client has purchased the good or service.

Internal failure costs are quality expenses related to product flaws found before a product leaves the facility.

Hence, warranty services all are examples of the internal failure cost.

Learn more about internal failure costs:

brainly.com/question/14802565

#SPJ1

8 0
1 year ago
Grouper Corp. retires its $640000 face value bonds at 105 on January 1, following the payment of annual interest. The carrying v
AleksAgata [21]

Answer:

Explanation:

The journal entry is shown below:

Bonds payable A/c Dr $640,000

Premium on bonds payable A/c Dr $23,970

Loss on bonds redemption A/c $8,030

         To Cash A/c $672,000                     ($640,000 × 1.05)

(Being the redemption of bond is recorded and the remaining balance is debited to the Loss on bonds redemption account)

The Premium on bonds payable is computed below:

= Carrying value of the bonds - face value of the bond

= $663,970 - $640,000

= $23,970

4 0
3 years ago
The type of advertising that does not focus on promoting specific goods or services but instead attempts to promote an organizat
lawyer [7]

Answer: Institutional

Explanation:

The institutional advertising helps to promote an institutional, organization, business or the industry related advertisement.

The institutional advertisement is also known as corporate advertising that mainly focus on the business ideas and the benefits.

It helps to enhance the reputation of an organization and also try to build a good image in the market. Therefore, Institutional advertising is the correct answer.

8 0
3 years ago
Other questions:
  • Self doubt is a result of ______. a. Having great success b. Lacking self-esteem c. Successful conflict resolution d. An asserti
    8·2 answers
  • Where would an ecologist be least likely to go to study primary succession?
    13·1 answer
  • ​psychologists usually attempt to determine whether or not data supports a hypothesis through the use of ____.
    14·1 answer
  • Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction
    7·1 answer
  • Priya has held several different positions within the same company. She has been an Assistant to the Marketing Manager, a Sales
    14·2 answers
  • Ceteris paribus, based on the aggregate demand curve, if the price level _______ the quantity of real output _______ increases.
    12·1 answer
  • On February 1, 2020, Nelson Corporation purchased a parcel of land as a factory site for $320,000. An old building on the proper
    9·1 answer
  • R. J. Graziano Wholesale Corp. uses the LIFO method of inventory costing. In the current year, profit at R. J. Graziano is runni
    8·1 answer
  • The following information is available for the Gabriel Products Company for the month of July: Static Budget Actual Units 5,000
    14·1 answer
  • What is a computer network?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!