Inventory costing methods rely heavily on assumptions about the flow of costs. The most widely used inventory valuation method is the FIFO method.
FIFO (First-In, First-Out), LIFO (Last-In, First-Out), Specific Identification, and Weighted Average Cost are the 4 major Inventory costing methods. If your inventory costs are steady or increasing, LIFO is the better option. Businesses with bigger inventories and rising costs appreciate how LIFO reduces profits and taxes while increasing cash flow. If your inventory costs are decreasing, FIFO is the better option.
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Answer:
It is possible if you either have a witness or if you take a lie detector test
Explanation:
<span>The manager of a fast food franchise will establish o</span>perational plans in regard to how many hamburgers to cook each hour.
Answer: d.Pam must pay income tax on $1,100,000.
Explanation:
Pam will have to pay income taxes on a couple of those accounts.
The first account will be the Employee contribution which means that the $800,000 by Silver is taxable.
She will also need to pay on the plan earnings which is $300,000.
Pam DOES NOT have to pay on her father's Contribution as those are After-tax contributions and NEITHER does she have to pay on the Insurance maturity value as that is not Taxable.
Adding the figures up then we have,
= $800,000 + $300,000
= $ 1,100,000
Pam will have to pay taxes on $1,100,000
<span>For individual taxpayers, deductible losses for tax purposes do not include personal losses. </span>
