The cost of ending inventory and the cost of goods sold under each of the following methods: Under the LIFO method, Sales Less: Cost of Goods sold Gross Profit less: Selling, admin, depreciation Income before.
Final in, first out (LIFO) is a technique used to account for inventory. beneath LIFO, the expenses of the maximum recent products bought (or produced) are the primary ones to be expensed. LIFO is used most effectively inside the USA and governed via the commonly ordinary accounting standards (GAAP).
The LIFO method is used within the COGS (value of products sold) calculation while the fees of manufacturing a product or obtaining inventory have been growing. this will be because of inflation.
The ultimate-In, First-Out (LIFO) method assumes that the last unit to arrive in stock or greater latest is offered first. the first-In, First-Out (FIFO) approach assumes that the oldest unit of inventory is sold first.LIFO effects decrease internet earnings because the price of products offered is better, so there may be a decrease in taxable profits.” decreased tax legal responsibility is a key reason some organizations decide on LIFO.
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Answer:
D: $259,000
Explanation:
The computation of the paying amount which borrower can pay for a property is shown below:
= Mortgage loan amount for borrow ÷ loan-to-value ratio
= $220,000 ÷ 85%
= $258,823.53
= $259,000 round off
We simply divide the mortgage loan by the loan to value ratio so that paying amount could arrive which borrower can pay for a property.
Free enterprise pretty much says that people can sell whatever they want at a price they choose to whoever wants to but it. Becacuse of this people wanted to go out and make their own businesses where they sold the goods or services they chose to. So yes, I believe free market inspired people to become euntrapenures. For the next question, yes as well. With the amount of people selling different things the economy became more diverse.
Answer:
quality and price of product