Answer:Using LIFO, gross profit on 18 units sold is $562
Explanation: The Last In, First Out (LIFO) inventory costing method is one which assumes goods brought in most recently are sold first, then the one after that, and so on. It is demonstrated as follows:
The 18 units sold would be costed as
6 units bought on Nov. 6 @ $25, amounting to $150
10 units bought on Nov. 2 @ $22, amounting to $220
2 units bought on Nov. 1 @ $20, amounting to $40
Gross profit = Sales revenue - cost of goods sold
Sales revenue = 18 units × $54 = $972
Cost of goods sold = $150 + $220 + $40 = $410
Therefore, gross profit will be
$972 - $410 = $562
Answer:
Principle of anticipation
Explanation:
The principle of anticipation is a way to measure or calculate the value of a property. According to this rule the value of a property depends on the anticipated or expected income or cash flows the property can generate in the future. The higher the anticipated or expected income or cash flow the higher the value of the property will be. For example if a commercial building has a anticipated income of rent of $100,000 and the another building has an anticipated income of rent of $200,000, the building with the higher anticipated income will have a higher price if all other things are equal. In this case the anticipated annual rental income has a direct bearing on what the investor will pay for the property. So this is an example of the principle of anticipation.
Answer:
Objective
Explanation:
The reason is that the achievement of the set objectives and goals are the basis for appraisal of different persons and departments. It is a means of assessing the performance of the sales team by Tanya that shows how favourable and adverse the performance of the sales team member is.
Answer:
Henry's QBI deduction = $9,760
Henry's taxable income = $39,040
Henry's tax liability = $4,487.30
Explanation:
QBI deduction = (AGI - standard deduction) x 20% = ($61,200 - $12,400) x 20% = $9,760
total taxable income = $61,200 - $12,400 - $9,760 = $39,040
tax liability = $987.50 + [12% x ($39,040 - $9,875)] = $987.50 + $3,449.80 = $4,487.30
The metrics based on financial numbers produced by the accounting system are quantitative factors.
Quantitative factors are numerical outcomes from any decision which could be measured. These factors are commonly included in various financial analyses, which are used to evaluate any situation.
Managers are generally taught to rely on quantitative factors as a large part of their decision-making processes.
In other words, managers can easily quantify the effects of a decision. This could include measuring different costs, revenues, or even non-financial data for outcomes to a decision.
To know more about quantitative factors here:
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