Answer:
They will pay more taxes if they value inventory using LIFO.
The difference in taxes between the two methods is $8400($ 32,550.00 minus $ 24,150.00)
Explanation:
The oil distributor will pay more taxes using LIFO method in valuing the cost of goods sold because LIFO would pick the prices of goods recently purchased which were lower overall compared to prices of goods earlier purchased.
Hence,inventory sold is charged with lower prices and eventually lower costs of good sold s well higher gross profit which translates into higher taxes.
It would be preferable to value inventory sold using FIFO so as to reduce taxes payable by $8400.
Find attached detailed computation.
The last item on the vehicle starting checklist before a driver begins to travel is for the driver to release the service brake.
<h3>What does it mean to release the brake?</h3>
The Release Parking Brake message implies that your parking brake is said to be currently engaged and as such one needs to release the parking brake before one can be able to drive the vehicle.
Therefore, The last item on the vehicle starting checklist before a driver begins to travel is for the driver to release the service brake.
See full question below
what is the last item on the vehicle starting checklist before a driver begins to travel?
Learn more about checklist from
brainly.com/question/16041035
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Answer:
I'm pretty sure it's false
Explanation:
Brainstorm is part of a problem-solving method. you can't solve a problem with nothing but brainstorming