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3 years ago

In a period of rising prices, the inventory method which tends to give the highest reported inventory is

Business

1 answer:

nordsb [41]3 years ago

4 0

Answer:

a. FIFO

Explanation:

Under the FIFO method, the inventory which is come first is sold first and the remaining inventory is sold.

The LIFO method is opposite to the FIFO method. It means that the last units is sold first and the rest of the units are sold later

The weighted average is that method in which the weighted average per unit is computed by considering total cost by total units excluding the sales units

The moving average is that method in which the arithmetic mean is computed

Under the FIFO method, it provides the highest inventory as well as the highest net income as compared to other inventory methods

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Maker Co. discovered that in the prior year it incorrectly calculated depreciation expense and reported $75,000 in depreciation

WARRIOR [948]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Maker Co. discovered that in the prior year it incorrectly calculated depreciation expense and reported $75,000 in depreciation expense instead of the correct depreciation expense of $50,000. The tax rate for the current year was 35%.

We need to calculate two different impacts:

Accumulated depreciation= actual depreciation - original depreciation

Accumulated depreciation= 50,000 - 75,000= 25,000 overstated

Now, the effect on income:

Savings in tax= 25,000*0.35= $8,750

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3 years ago

Gina and Chen are both managers at CPA4U, a large accounting firm. Each has a very different management style. Gina is very outg

Vladimir [108]

Answer:

Task-oriented leader

Explanation:

Task-oriented leaders focus on accomplishing tasks in order to achieve a certain goal. These leaders will set out the tasks to be done, plan and organize resources needed to accomplish the tasks and monitor progress towards accomplishment of the tasks. Task-oriented leaders do not tend to focus on the well being of their team. Chen demonstrates traits of a task oriented leader.

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4 years ago

Companies transmit over the internet because the internet ________.

Lera25 [3.4K]

<span>the answer to the question is : is inexpensive</span>

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3 years ago

A(n) __________ is one that appears to be an agreement but lacks an essential requirement for validity and enforceability. Multi

Iteru [2.4K]

A document that purports to be an agreement but does not include all necessary terms is known as a void contract. Therefore, choice 3 is right.

<h3>What do you mean by a contract?</h3>

A contract is defined as a commitment to do something between two or more parties. A loan arrangement between automobile purchasers and sellers is an illustration of a contract.

An arrangement between two persons to get married is an example of a contract.

A formal contract that is effectively void and unenforceable from the moment it is created is known as a void contract.

Hence, the correct option is Void contract to be filled in given blank

Learn more about contracts:

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2 years ago

The balance of Chiaki's average balance checking account at the beginning of the last cycle was $100, and the only transaction f

Ne4ueva [31]

The correct answer is $90

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3 years ago

Read 2 more answers