Answer:
$2,255
Explanation:
The computation of the cost of good sold using the LIFO method is shown below:
Data given in the question
On October 1 = 8 units at $200 each
On October 2 = 20 units at $205 each
And, 11 units are sold on October 4
So using the LIFO method, the cost of goods sold for 11 units is
= Number of units sold × price of each units
= 11 units × $205
= $2,255
Using the previous budget as a starting point and making adjustments to the funds allocated to each expense category is the budgeting approach known as incremental budgeting.
<h3>
What is incremental budgeting?</h3>
- The concept behind incremental budgeting is that the easiest way to create a new budget is to just make minor adjustments to the one that is already in place.
- In other words, incremental budgeting involves starting with the present budget and adding or subtracting incremental assumptions to arrive at new budget numbers. In terms of budgeting techniques, incremental budgeting is frequently regarded as the most conservative strategy.
- Entrepreneurship is extremely dangerous, but it can also be very rewarding because it contributes to economic growth, innovation, and wealth.
- For entrepreneurs, securing money is essential: SBA loans and crowdsourcing are two forms of finance.
- The manner business owners file their taxes and pay them will depend on the organizational structure of their company.
To know more about incremental budgeting with the given link
brainly.com/question/14271949
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