Answer:
The answer is LIFO
Explanation:
LIFO is Last in First out. It means the Inventory that was purchased last goes out first.
In periods LIFO, cost of sales reflects the cost of goods purchased recently and the ending Inventory reflects the older goods.
In periods of falling prices, the costs of ending inventory are high, cost of sales are low and the gross profit are high.
Answer:
Find the balance sheet in attached excel file
Explanation:
Please note that the workings is before the final figures placed in respective columns.
Answer:
Batch Level
Explanation:
Batch level activity is the cost incurred that is related to the production of a certain batch of a product. It is usually associated with the cost incurred in the production of a group of units which cannot be traceable to individual units within a batch.
For instance, the incurred cost for setting up a machine to produce a batch of 10,000 units of an item is referred to as batch level cost. The cost can only be allocated to the 10,000 units produced per batch, not just one unit in the batch. In addition to machine setups, other cost drivers are inspection, purchase orders, direct labor hour, quality tests etc.
Answer:
The reserve ratio - The Federal Reserve Bank increases the share of total deposits that banks can legally loan.
The reserve ratio is the percentage of deposits that banks have to keep as reserve and cannot loan. If the fed lowers the reserve ration, it means that banks can loan a higher share of the total deposits that they store.
Open-market operation - The European Central Bank purchases bonds from commercial banks.
In Open-market operations, central banks purchase bonds and other securities in the open market in order to lower the interest rate, or they sell securities in order to raise the interest rate.
The term auction facility - The Federal Reserve requests secret bids from banks for the right to borrow money.
The term auction facility is a program in which the Federal Reserve bids loans under special conditions to bidding banks.
The discount rate - The central bank decreases the rate that it charges to commercial banks for loans.
The discount rate is the rate at which central banks loan money to commercial banks.
Answer:
1 cunsumption 2v wealth 3 asset 4 gross income
Explanation:
