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o-na [289]
2 years ago
13

In times of falling prices, choosing LIFO over FIFO as an inventory cost method would affect the financial statements as follows

: Question 14 options: a) Cost of goods sold will be higher and ending inventory will be lower b) Cost of goods sold will be higher and ending inventory will be higher c) Cost of goods sold will be lower and ending inventory will be higher d) Cost of goods sold will be lower and ending inventory will be lower
Business
1 answer:
stiv31 [10]2 years ago
4 0

Answer:

C. Cost of goods sold will be lower and ending inventory will be higher.

Explanation:

Last-in-first-out (LIFO) gives assumption that the most recent inventory purchases are sold first. First-in-first-out (FIFO) gives assumption that the oldest inventory purchases are sold first. In times of falling prices, LIFO will assume they sell those inventories that are more recent first, bringing about a lower cost of goods sold number. Then inventory purchases that are older will then remain in ending inventory causing the ending inventory to be higher under LIFO

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Sunnyside Travel, Inc. is a travel agency that specializes in destination wedding vacation packages. It has packages ranging fro
Naya [18.7K]

Answer:

Mass customization

Explanation:

Mass customization is a business approach that focuses on providing customized goods and services to customers. It is a strategy that requires flexibility, integration, and personalization to make customized products that suit each customer's needs.

The biggest challenge with mass customization is the cost element. A business needs to have sufficient customer orders to deliver quality customized products at a competitive price.

Mass customization is the availing of tailor-made products, unique and to each customer's liking. By allowing each customer to set their preferences, Sunnyside Travel is involved in mass customization.

6 0
2 years ago
A mayor announces plans to reduce the salaries of Firefighters by ten percent, but the union that represents the
Alex787 [66]
The answer is Mediator.
Because when you google the definition of the mediator it tells you the following:

“a person who attempts to make people involved in a conflict come to an agreement; a go-between.”
8 0
3 years ago
According to Frans Johansson, all new ideas are: Select one: a. Typically representative of a combination of ideas that are inte
Fofino [41]

Typically representative of a combination of ideas that are integrated to create value is the correct option.

Frans Johansson believes that innovation may be accomplished by combining ideas from many fields and sectors. He emphasized the value of varied teams and how different viewpoints will aid in the creation of enhanced ideas.

The Medici effect refers to the belief that enhanced creativity and invention arise as a result of variety. Step-changes can occur when ideas and skilled individuals from many professions are brought together to cooperate. Frans Johansson's novel of the same name inspired the concept.

Therefore, the correct option is a.

To know more about ideas and invention  click  here:

brainly.com/question/6463555

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6 0
2 years ago
Give an example of financial leverage, define it and explain how financial leverage works
Gemiola [76]
Example: A company spends $5 million to buy prime real estate on which to build a new manufacturing factory. The land is worth $5 million. This is not financial leverage because the corporation is not using borrowed funds to purchase the land.
If the same corporation spent $2.5 million of its own money and $2.5 million in borrowed funds to purchase the same piece of real estate, the company is utilizing financial leverage.

Define: the utilization of fixed expenditures to increase the expected risk and potential return

Explanation: When purchasing assets, the corporation has three alternatives for financing: stock, debt, and leases. Apart from equity, the remaining choices have fixed costs that are lower than the expected income from the asset.
7 0
2 years ago
Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 2.05 feet of leather and
Katarina [22]

Answer:

1. $3.20 x 2.20 = $7.04

2. It will be favorable.

3. It will be unfavorable.

4. Direct material price variance = $22

   Direct material quantity variance = 0.48

Explanation:

1. Standard direct cost per unit=cost of direct materials price x direct material standard quantity per unit.

2. It will be favorable because they expected or had budgeted to pay $3.60 per foot for the material but the actual cost became $3.20. So they  pay $0.40 less than they had expected to pay.

3. It will be unfavorable because they had planed or budgeted for each unit to use 2.05 feet of leather but they ended up needing 2.20 feet of leather per collar so that means they under budgeted by 0.15 feet.

4. Direct material price variance =( $3.60 x 55) less ($3.20x55)=$22

The total amount that was budgeted or expected to be paid is subtracted from the total actual  price that was paid.

Direct material quantity variance = (2.05x$3.20) less (2.20x$3.20)= -0.48

The total direct material quantity that is used is subtracted from the quantity that was expected to be used.

5 0
2 years ago
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