A price floor is the mining price that can be charged for an item. A binding price floor is a price set above market average pricing. Since the government regulates this and will not let them sell below the average market price, the price is set in stone for the products price in the market.
Answer:
125,200
Explanation:
Adjust inventory to base year prices:
= Cost of ending inventory ÷ cost index for the year
= $136400 ÷ 1.1
= $124,000
Current year LIFO layer:
= Adjust inventory to base year prices - Cost of beginning inventory
= $124,000 - $112,000
= $12,000
Inventory to be shown:
= Add the new LIFO layer at end of period prices to prior year LIFO inventory
= (112,000 × 1) + (12,000 × 1.1)
= 112,000 + 13,200
= 125,200
Answer:
own their own accounting business
Answer:
a. is that the advertiser has no control over where the ad appears in the newspaper.
Explanation:
Run-of-paper (ROP) is another term for advertisement in the newspaper. The main feature of this type of advertisement is that it costs very low and the ad can be placed anywhere on the paper.
The ad is placed by the editors and publishers where they believe it would be best suited in the paper. This means that the advertisers have no control over where the ads are posted in the paper. The only option the advertisers have is to decide on the size of the ad.
<span>fayez can best be described as a </span>government accountant.
Government's accountant main duty is to make sure that the government's spending has been efficiently used.
This is similar to management accountant's main duty to make sure company's operation is according to the budgeting plan.
