Answer:
C. Increase cost of goods sold and decrease inventory by $16,400
Explanation:
When Inventory is purchased, Debit Inventory and credit Cash/Accounts payable. As Inventories are sold, debit (increase) cost of goods sold (with the cost of the items sold) and Credit (decrease) Inventory account.
Using the first in first out method, the 4,000 units sold must have consisted of the following purchases;
- 2000 units on January 1
- 2000 units from the 3000 on January 13
Hence the cost of goods sold
= 2000 * $4 + 2000 * $4.20
= $16,400
Answer:
b. increasing the aggregate demand
Explanation:
The correct answer to the question is b. increasing the aggregate demand. The Increase in aggregate demand will not have effects on the inflation it will remain constant. Higher productivity growth will be set of by increasing the aggregate demand of the country. Increasing aggregate demand positively impacts large number of individuals in a country.
Answer:
I dont know what you are saying
Explanation:
It is the federal loans given to students by the federal government. This loans are made directly for the students whereby interests are fixed over time.
Answer:
C. Evaluate whether internal controls operated effectively.
Explanation:
Given that, a test of details of the transaction is an activity or process carried out by auditors, which can be done together with the test of control. The purpose of the test of control is, however, to determine the effectiveness of internal control.
Hence, in this situation, the correct answer is option C: Evaluate whether internal controls operated effectively.