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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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If the money supply is $500 and nominal income is $3,000, the velocity of money is A. 1/60. B. 1/6. C. 6. D. 60.

algol [13]

Answer:

The correct option is c.6

Explanation:

For computing the velocity of money, the following formula should be used which is shown below:

The Velocity of money = Nominal income ÷ money supply

where,

Nominal income is $3,000

and, the money supply is $500

Now put these values to the above formula so that we can find out the answer

So, the answer would be equal to

= $3,000 ÷ $500

= 6

Thus, the velocity of money is 6

Hence, the correct option is c.6

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3 years ago

Which customers are typical for the Agriculture, Food, and Natural Resources career cluster?

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2 years ago

You want to invest $20,000 today to accumulate $32,000 for graduate school. If you can invest at an interest rate of 10% compoun

uranmaximum [27]

Answer:

N = 5 years

Explanation:

At first we have to calculate the number of periods to determine at which part of the table we should look at.

Given,

PV = $20,000

FV = $32,000

Interest rate, i = 0.10 (10%)

Number of periods, n = ?

We know, Future value, FV = PV × $(1+i)^{n}$

or, $32,000 = $20,000 × $(1 + 0.10)^{n}$

or, 1.6 = $1.10^{n}$

As the factor is 1.6, we will look at the following image which is the FV factor table to find the number of periods.

We can find it in a different way too.

log 1.6 = n log 1.10

or, n = $\frac{log 1.6}{log 1.10}$

or, n = 4.93 years

Therefore, n = 5 years

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What can a person do to help increase their credit score?

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Alex is attempting to overcome Paralysis by Analysis.

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