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marusya05 [52]
3 years ago
12

Determine which of the following statements are correct regarding the difference between physical flow and the cost flow of good

s
a.Perishable items must have an actual physical flow of FIFO
b. A business may adopt any cost flow assumption when accounting for perishable items
c.Cost flow is an assumption about which goods/times are sold
d. Physical flow is focused on the actual movement of goods
Business
1 answer:
Viktor [21]3 years ago
4 0

Answer:

a.Perishable items must have an actual physical flow of FIFO

Explanation:

  • Cost flow estimates are required to determine the cost of goods sold and to end inventory. Companies make some ump habits about what goods are sold and what items are listed (as a result of various accounting methods).
  • Financial reporting and tax benefits and the actual movement of goods are not required to be accepted
  • The continuous inventory system may have different end inventory and COGS yields compared to the periodic inventory system due to LIFO's calculation time and weighted average cost flow estimates.
  • Reducing or exceeding the lower price of goods sold when prices fall or rise
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If we want to produce more computers, we must give up the production of some cameras, which is referred to as production efficiency.

Production efficiency is a word used in economics to describe the point at which an economy or other entity can no longer produce more of one good without reducing the level of production of a different one. When production is allegedly taking place along a production possibility frontier, something occurs (PPF). The terms "production efficiency" and "productive efficiency" are interchangeable. Similar to operational efficiency, productive efficiency refers to how effectively something is performing. The mapping of a production possibility frontier is central to the economic idea of production efficiency. When analyzing economic operational efficiency, economists and operational analysts often additionally take into account a few more financial variables, such as capacity utilization and cost-return efficiency.

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One of the huge benefits of just-in-time production is that the need for "time" is eliminated.

<h3>What is just-in-time production?</h3>

With just-in-time (JIT) manufacturing, products are produced as needed, rather than in excess or ahead of schedule.

Some characteristics of just-in-time are-

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