1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
A cyclically-adjusted budget balance: a. shows what the budget balance would be when there is a significant amount of cyclical u
GarryVolchara [31]

Answer:

B

Explanation:

The cyclically adjusted budget balance is what the budget balance of an economy would be if the GDP was at its potential. It is also known as the  known as the full employment budget balance

8 0
3 years ago
Bertha runs a fashion boutique. She prefers to personally interact with her customers to gauge the styles that would suit their
kvv77 [185]

Answer:

The correct answer is letter "A": providing personal customer service.

Explanation:

Customer service is a key feature that allows boosting the permanency of clients in selecting one product or service over the competitors. The more <em>personalized </em>the customer's experience is, the longer they will prefer to remain to purchase the goods of the entity or using their services.

3 0
4 years ago
Monitoring operations and keeping the company on track is part of the ________.
kompoz [17]

Monitoring operations and keeping the company on track is part of the business operations. It provides the relevant information in order to make business decisions

8 0
3 years ago
Read 2 more answers
Jacobs Company has inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.
Crank

Answer:

The value of the inventory on hand is $210

Explanation:

Inventory on hand / purchased;

June 1 - 15 units at $12

June 5 - 10 units at $13

June 12 - 20 units at $14

total units on hand = 45 units

Sale - 30 units sold

units left on hand 15.

Since there are only 15 units left on hand, and the $12 and $13 inventory units have all been sold since they were in first before the inventory purchased on June 12 the value of the inventory on hand is 15 x $14 = $210.

8 0
3 years ago
Read 2 more answers
Gross Pay: $576.00<br> What is the net pay after the deductions for Questions 1-3?
Mazyrski [523]

Answer: See explanation

Explanation:

Your question isn't complete but I got the other necessary information online.

federal income tax (10% gross pay)

social security tax (6.2% gross pay)

medicare tax (1.45% of gross pay)

gross pay: $576.00

federal income tax = 10% × $576.00 = $57.60

social security tax = 6.2% × $576.00 = $35.71

medicare tax = 1.45% × $576.00 = $8.35

Net pay = Gross pay - (Federal income tax + Social security tax + Medicare tax)

= $576.00 - ($57.60 + $35.71 + $8.35)

= $576.00 - $101.66

= $474.34

Net pay = $474.34

4 0
3 years ago
Other questions:
  • Assume you're using a three button mouse to access a short cut, you would
    10·1 answer
  • When consumers have more _____ to adjust demand becomes relatively more elastic?
    11·1 answer
  • A project will reduce costs by $38,500 but increase depreciation by $18,300. What is the operating cash flow if the tax rate is
    14·1 answer
  • During April, Cavy Company incurred factory overhead as follows:Indirect materials $10,500Factory supervision labor 4,000Utiliti
    9·1 answer
  • Lincoln Park Co. has a bond outstanding with a coupon rate of 5.76 percent and semiannual payments. The yield to maturity is 6.3
    6·1 answer
  • Which business type pays double tax to the government
    14·1 answer
  • As you move through your career and begin to seek promotions, it is helpful to ______. a. Target and train for specific career p
    13·2 answers
  • What type of wave is sound?
    6·2 answers
  • Pepe, Incorporated acquired 60% of Devin Company on January 1, 2018. On that date Devin sold equipment to Pepe for $45,000. The
    15·1 answer
  • All else equal, imposing taxes in markets where demand and supply are price- not only causes less but also raises more .
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!