Answer:
1. A is temporary
2. B is permanent
3. C is temporary
Explanation:
1. A is temporary because these Valentine's day card are sold seasonally. That is at a particular time of the year. It's inventory is not for a permanent basis or for a long period of time.
2. Acquiring a new forklift is a permanent inventory because the equipment will stay in the company for a long period of time, for as long as it continues to serve the purpose for which it was acquired. This makes it a life asset.
3. The Increase in account receivable do due to expansion in customer base is for a short term due to goods sold on credit therefore they are temporary.
Cost of goods sold assuming LIFO would be $1,653.
It is a technique used to account for stock. under LIFO, the charges of the maximum current merchandise bought are the first to be expensed. LIFO is used best within the governed via the generally usual accounting concepts.
Determine the inventory cost of our oldest stock and multiply that fee with the aid of the quantity of inventory bought, whereas to calculate LIFO decide the fee of your maximum recent stock and multiply it by using the amount of inventory bought.
explanation;
Records for Dunbar Incorporated revealed the following:-
Cost of goods sold = (320 × $2.51) + (360 × $2.36)
Cost of goods sold = $803.2 + $849.6
Cost of goods sold = $1,653
Disclaimer:- your question is incomplete, please see below for complete questions
Beginning inventory 470 $2.36 Apr.
20 Purchase 320 2.51 Dunbar sold 680 units of inventory during the month. Cost of goods sold assuming LIFO would be?
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The best logical induction that can be made is d. People do and do not like oranges.
<h3>What is logical induction?</h3>
This refers to making a generalization about a population based on individual pieces of information about the population's members.
Betsy and Benjamin like oranges but Jose does not. This means that people can either like or dislike oranges.
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Arrow sells for $35.00. your material cost per unit is $15.00 and labor costs per unit are $10.00. your fixed costs are $4,500. how many do you have to sell to break even?
ANSWER 300
