Answer:
$82
Explanation:
Month Quantity rate Total
January purchase 7 letters 6 42
February 5 letters 8 40
March 6 letters 9 45
Total 18 127
Number of letters sold = 6
Closing inventory = 18 - 6 = 12
Using LIFO , the last set of item purchased are the first to be sold , therefore the closing inventory will be
(5*8)+(7*6)= $82
Answer:
This is the example of an Invasion
Explanation:
An invasion is a military offensive in which large numbers of combatants of a country aggressively enter territory owned by another country generally with the objective of either conquering, liberating or re-establishing control or authority over a territory, forcing the partition of a country, altering the established government or gaining concessions from said government, or a combination.
Answer:
C. LIFO liquidation
Explanation:
Benson Company uses the LIFO inventory costing method for both its tax reporting purposes and its financial reporting purposes. In its footnotes, Benson Company is required to report the amount at which inventories would have been reported under FIFO method.
The difference between these two numbers is commonly referred to as LIFO Reserve.
LIFO reserve represents the difference in ending inventory using LIFO and ending inventory if FIFO were employed instead.
Third option is the correct option.
LIFO reserve = FIFO inventory cost - LIFO inventory cost
FIFO inventory cost = LIFO inventory cost + LIFO reserve
Answer:
Please see below for answer
Explanation:
<u>1 Reduction in subsidy by government
</u>
The supply will be negatively affected as the production cost will get higher and it will get more difficult to meet the demand of the product.
<u>2 Increase in price of wood
</u>
This will again have an impact on the supply as the production cost increases due to more expensive raw materials.
<u>3 Need of cupboards increased in universities
</u>
The demand has increased in this case and the supply will have to be increased too if the demand is to be met.
<u>4 Reduction in tax for both buyers and seller of cupboard</u>
This will result in an increase in both supply and demand as more people might be able to afford the cupboards now as compared to before.
<span>D. The product is a necessity.</span>
