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3 years ago

The LIFO inventory method assumes that the cost of the latest units purchased are:

Business

1 answer:

Scilla [17]3 years ago

4 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

The LIFO inventory method assumes that the cost of the latest units purchased are:

<u>Under the Last-in, First-out method the first units on inventory are the ones left to ending inventory. On the contrary, the last units are the first ones to go to the cost of goods sold. </u>

a. the last to be allocated to the cost of goods sold. False, this is under the FIFO method.

b. the first to be allocated to ending inventory. False, this is under the FIFO method.

c. the first to be allocated to the cost of goods sold. True.

d. not allocated to cost of goods sold or ending inventory. False, they are allocated to cost of goods sold.

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(More than 1 answer)Which of the following collect and evaluate career outlook information: Internal Revenue Service

Lerok [7]

Answer: U.S. Dept. of Labor, Universities, and Colleges, as well as, State Department of Education collect and evaluate career outlook information.

Explanation:

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3 years ago

The number of minorities in the workforce is _____. a. diminishing b. increasing c. unchanging d. decreasing

lara31 [8.8K]

Answer:

Option b (increasing) is the correct choice.

Explanation:

Business owners may use statistics on either the minority race demographic to select a representative sample of about there workers with either the aspects of the brand living nearby.
The population group query has also been used to obtain a depend on a number element.

The remaining three options are not relevant to the situation in question. It should be the correct solution to the above.

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3 years ago

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3 years ago

v91. If a U.S. dollar purchases 4 Argentinean pesos, and a gallon of milk costs $3 in the U.S. and 6 pesos in Argentina what is

Alla [95]

The real exchange rate is 1 dollar = 2 Argentine pesos

The exchange rate is an economic term to refer to the relationship between two currencies. The exchange rate establishes the proportion of value that exists between two currencies. For example:

1 Dollar is equivalent to 4 Argentine pesos

However, this rate does not represent reality in some places, there may be situations in which the proportions established by the exchange rate are not faithful to reality. For example:

3 Dollars or 6 Argentine pesos are used to buy 1 gallon of milk.

In this example, it is evident that in reality, the dollar is not equivalent to 4 Argentine pesos but to 2 due to the proportion of value concerning a product. Therefore, the real exchange rate is 2 Argentine pesos for every American dollar.

Learn more in: brainly.com/question/15169469

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3 years ago

A process cost summary for a production department accounts for all costs assigned to that department during the period plus cos

tigry1 [53]

Explanation:

The process cost shows the summary of the activities related to the production. It includes the cost of goods completed & transferred units and the ending work in process inventory.

So, the given statement is true

The indirect cost are come under the manufacturing overhead cost. So, it would be charged to overhead control account

Thus, the given statement is false.

The direct labor includes that labor which is directly related to the production process of a product. So the single production department is likely to be a direct labor

Thus, the given statement is true.

To record the allocation of overhead, the following journal entry is required

Work in Process Inventory, Baking Dept A/c Dr $24,500

To Factory overhead A/c $24,500

(Being the overhead allocation is recorded)

The computation is shown below:

= Direct labor cost × allocation rate

= $10,000 × 245%

= $24,500

Thus, the given statement is true.

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3 years ago