Answer:
total cost of goods sold = $354
so correct option is b. $354.
Explanation:
given data
inventory = 30 units
inventory cost = $11 each
purchased = 40 units
purchase cost = $12
sold = 32 units
solution
as per FIFO here units are sold from old purchase
so first here 32 units are sold that is as
cost of goods sold = 30 × $11
cost of goods sold = $330
and remaining 2 unit are
cost of goods sold = 2 × $12
cost of goods sold = $24
so total cost of goods sold = $330 + $24
total cost of goods sold = $354
so correct option is b. $354.
The individuals that purchase and utilize the goods or services that your business provides are known as external clients. These clients are those you should design for when coming up with problems and solutions. An external client is a sort of consumer who does not interact with the business directly,
But purchases and uses the goods and services that are produced. What is typically referred to as a "customer" in general is an external customer. They make a purchase of a company's goods or services but do not hold any other positions within the business, such as vendor, partner, or employee.
Some such instances include shoppers who visit a store to buy groceries, tourists who purchase admission tickets at attractions or parks, and hotel guests.
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Answer:
True
Explanation:
Based on the information given the statement is TRUE because if an appraiser which is person whose job and responsibility is to help assess the market value of things which is the amount in which a product can be sold had provide an approved and acceptable opinion that the market value of the land is the amount of $2,800 which means the company would continue to list the land on its books at the amount of $2,200 reason been that the amount of $2,200 is the book value of the land or the cost of purchasing the land while the amount of $2,800 is the market value which will enable the company to make a gain or profit of $600 ($2,800-$2,200) if the land was been sold for the amount of $2,800.
Answer:
No, a reversal of a ruling shall not be given a retroactive application if it will be prejudicial to the taxpayer.
Explanation:
Based on the information provided it can be said that No, a reversal of a ruling shall not be given a retroactive application if it will be prejudicial to the taxpayer. Meaning that the BIR can not assess ABC Printers for back taxes because ABC Printers was following the rulings made by BIR at that time correctly, the change in ruling applies to taxes only after the change has been made and not before. Therefore as long as ABC Printers begins paying taxes now, then the BIR has no standing.
Menu design is determined by type of operation, the market, and meal period.
