When prices are rising, the Cost of Goods Sold according to LIFO will be <u>higher </u>than cost of goods sold under FIFO.
Last-In, First-Out (LIFO) refers to a company selling off the latest inventory that it receives first before the inventory it received earlier.
When prices are rising, LIFO will result in a higher COGS because:
- Purchases will be high
- Closing stock will be low on account of only the earlier cheaper inventory being left
In conclusion, LIFO results in cost of goods sold being higher because the closing stock which is deducted from COGS will be lower.
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Answer:
A convertible Bond is a fixed-income corporate debt security that yield interest payments but also can be converted into a predetermined number of common stock or equity shares
D) They pay for specific social programs rather than general government activities.
Answer:
3. inelastic.
Explanation:
Demand is inelastic if a change in price leads to little or no change in the quantity demanded.
If tuition is increased in order to increase revenue, demand for the school has to be inelastic.
If demand is elastic , if tuition is increased, the number of students enrolled in the school would drop and revenue would fall.
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The answer is D.Internal control questionnaire. Hope this helps.