Yes ,it's true ,thus minimising trade barriers
Answer:
2,800 units
Explanation:
The computation of the ending work in progress units is shown below:
= Beginning inventory units + units started - transferred units to the second processing department
= 2,100 units + 8,500 units - 7,800 units
= 2,800 units
All other information which is given in the question is not relevant. Hence, ignored it
In general, if you have more types of deductions on your tax, the 1040 forms maybe more appropriate for you because it provide you with various options to claim deductions or credit.
The 1040Ez on the other hand only offer a simple format that only beneficial for taxpayers who made certain conditions.
Answer:
Explanation:
Apply first discount to original price
apply next discount to discounted price
etc
Answer:
The understatement of the ending inventory balance would result in an overstatement of the cost of goods sold. This will in turn result in an understatement of the gross and net profits for the year in the p/l.
Explanation:
The relationship between the elements of inventory in a financial statement is as shown below,
Opening balance + purchases - cost of goods sold = closing balance
As such, the understatement of the ending inventory balance would result in an overstatement of the cost of goods sold. This will in turn result in an understatement of the gross and net profits for the year in the p/l.
