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Nataliya [291]
3 years ago
5

In 2005, Cobb adopted the dollar-value LIFO inventory method. At that time, Cobb's ending inventory had a base-year cost and an

end-of-year cost of $300,000. In 2006, the ending inventory had a $400,000 base-year cost and a $440,000 end-of-year cost. What dollar-value LIFO inventory cost would be reported in Cobb's December 31, 2006, balance sheet?
Business
1 answer:
kherson [118]3 years ago
6 0

Answer:

$410,000

Explanation:

The computation of the ending inventory under the LIFO method is shown below:

= Year end cost + difference of amount  × price level index

where,

Year end cost = Beginning cost

Difference of amount = $400,000 - $300,000 = $100,000

Price level index = $440,000 ÷ $400,000 = 1.1

So, the inventory cost is

= $300,000 + $100,000 × 1.1

= $300,000 + $110,000

= $410,000

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Answer:

Y= 6000 + 0.75X

Explanation:

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Using the a high and low technique, total cost can be analysed and separated into fixed and variable portion. This analysis helps in the forecast of cost and therefore important for the preparation of budget.

<em>Variable cost of maintenance</em>

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<em>Fixed cost of maintenance</em>

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6 0
2 years ago
Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year: one was p
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Answer:

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4 0
2 years ago
Macroeconomic forces contribute to an industry's ability to be profitable. Which of the following examples shows how a company m
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Answer:

A home mortgage company creates a sales promotion with incentives for potential home buyers to take advantage of a particularly favourable interest rate.

Explanation:

Companies usually give numerous promotions to their valuable customers to increase the overall sales revenue. In the above scenario, if a home mortgage company creates a sales promotion which attracts customers to buy their product and take advantage of the favourable interest rate is an example of companies focusing on macroeconomic factors. Macroeconomic forces are important for any company to improve profits.

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3 years ago
Pina Corporation began operations on January 1, 2014. During its first 3 years of operations, Pina reported net income and decla
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Answer:

The retained earnings statement showed a closing retained earnings of $226,120.00  as at 2017 year end.

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In arriving at the closing retained earnings , I treated prior items retrospectively- that is as if the impact of such items have been in the accounts from day one,less the tax effect of all items involved.

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7 0
2 years ago
Which is not an effective principle for preparing main points? A. Balance the amount of time given to each main point B. Make su
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Answer:

B. Make sure each main point is brief

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5 0
3 years ago
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