The value assigned to ending inventory if dander Mifflin uses LIFO method is $1092
The value assigned to ending inventory if dander Mifflin uses FIFO method is $1170
FIFO
FIFO method assumes that the inventory bought in first, will be the first to the sold to customers.
Ending Inventory = 520 units × $2.25
= $1170
LIFO
LIFO methods assumes that the inventory bought in last will be the first to be sold to the customers.
Ending Inventory = 520 units× 2.10
= $1092
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<span>John Burke used newspaper stories, dime novels and movies to promote Bill's Wild West Show. Using multiple outlets instead of one would give the show more exposure and expose the show to groups of people who may have never considered watching it. It only makes sense Burke would try and promote the show in different mediums, it increase the chances of the show drawing in more viewers.</span>
Profit centers use departmental income statements reports for effectively evaluating the performance of profit centers.
<u>Explanation:</u>
The success of manager in generating the income or profits are evaluated by a profit center.It uses the income statements reports for the purpose of evaluating the performance of profit center in an effective way. The segment that intakes cost and generates profits is an investment center. They are mainly responsible in the effective utilization of an organisation's asset.
An enterprise determines the performance of a profit center financially in absolute terms. It is the profit potential of the unit that determines the performance Managers. A manager of a highly profitable segment gain more success than the lower one.
Answer:
Days' sales in receivables= 31.91 days
Explanation:
The day's sales in account receivable ratio is also called average collection period. It states the number of days on the average to collect a business's account receivable.
Days sales turnover is calculated by dividing total number of days in a year by the account recievables turnover ratio.
The formula for accounts receivable turnover ratio= Current credit sales received/ Accounts receivable balance
Accounts receivable turnover= 1,453,909/127,100
Accounts receivable turnover= 11.439
Assume a 365 day year
Days' sales in receivables= 365/Account receivable turnover
Days' sales in receivables= 365/11.439
Days' sales in receivables= 31.908~ 31.91 days
