fifo uses the oldest cost for cost of goods sold on the income statement and the newest cost for inventory on the balance sheet.
FIFO is an inventory accounting system that means first in, first out. This means that the first goods that are bought are the first that are assumed to be sold and the newest goods are assumed to remain in inventory.
For example, if you purchase 1 unit of a good at $3 on 1/3/21 and a second unit of the good at $5 on 31/03/21. Only one unit of the good is sold If the FIFO method is used, the cost of good sold would be $3 and the ending inventory would be $5.
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Which of those two percentages is larger? that's your answer.
a larger percentage means that it has a greater affect on the outcome.
Answer: Option (c) is correct
From the given option the following is associated with the market development strategy: <em>Adding new features to products.</em>
Market development refers to the technique under growth strategy that visualize and establish new market segments for their products. This terminology targets non-buying individuals in targeted segments. This also targets new individuals in new segments.
Answer:
Fink's revenue from insurance premiums for the current year is: $13,500,000
Explanation:
Insurance premiums recognised for the current year -
Insurance collected + Beginning Deferred premiums account - Ending Deferred premiums account
= $ 17,900,000 + 4,000,000 - 8,400,000 = $13,500,000
Answer:
$100 income, that added fees are only $600.
