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:
The answer is b Justifies ignoring the matching principle in certain circumstances.
Explanation:
Answer:
10 to 25 percent
Explanation:
It is noteworthy that in such research work, in other to validate the study, the supervisors are usually required to call 10 to 25 percent of the respondents to inquire whether the field workers actually conducted interviews.
Remember, if such control policies are not in place, the field workers may not be performimg their duties, that is why the supervisors make such calls to monitor the field workers performance.