1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ale4655 [162]
3 years ago
11

When comparing the results of LIFO and FIFO when inventory costs are​ decreasing: A. ending inventory will be higher using LIFO.

B. cost of goods sold will be higher using LIFO. C. ending inventory will be higher using FIFO. D. cost of goods sold will be lower using FIFO.
Business
2 answers:
Sever21 [200]3 years ago
7 0

Answer:

B. cost of goods sold will be higher using LIFO

Explanation:

If the inventory costs are going up, or are likely to increase,costing of LIFO may be better, because the cost items higher (the ones purchased or made last) are considered to be sold. This will results in lower profits and high costs.

Let us assume the opposite its true, and your inventory costs are sliding down, FIFO costing may be better. Since prices usually goes up, most businesses will prefer to use LIFO costing.

Usimov [2.4K]3 years ago
4 0

Answer:

B.

Explanation:

LIFO takes the latest cost of goods into account and leads to rising cost of goods produced or purchased. This in turn leads to lower gross profit. Conversely, FIFO takes into account oldest cost of goods purchased or produced and lower cost of goods sold, thus higher gross profit.

You might be interested in
A marine biologist is planning to move from Sydney, Australia to San Francisco. She has $5,000 Australian dollars (AUD) to make
natita [175]

Answer:

Now, if takes 0.765 USD to be equal 1 AUD. when the dollar increases, it will take fewer dollars to equal 1 AUD. for instance, it takes 0.5 dollars per 1 AUD. The conversion will change to:5,000 AUD * (0.5 USD/AUD)

5,000 * 0.5

= $2,500

so, her AUD will be worth more now.

Explanation:

Solution

Given that:

Her present  $5,000 AUD is worth $3,825 USD.

Then

5,000 AUD * (0.765 USD/AUD)

5,000 * 0.765

= $3,825

So,

If the USD dollar increases against the AUD, then, the ratio will reduce.

For example, it takes 0.765 USD to be equal 1 AUD. when the dollar increases, it will take fewer dollars to equal 1 AUD. for instance, it takes 0.5 dollars per 1 AUD. The conversion will change to:

5,000 AUD * (0.5 USD/AUD)

5,000 * 0.5

= $2,500

Therefore, her AUD will be worth more now.

6 0
3 years ago
You are choosing between these four investments and you want to be​ 95% certain that you do not lose more than 8.00% on your inv
borishaifa [10]

Answer: B. Corporate Bonds and T-Bills

Explanation:

As you want to be 95% certain, this would require a 95% confidence interval.

With the given returns and standard deviations, the range of returns expected will be computed by;

Upper limit = Return + 2*SD

Lower limit  Return - 2*SD

Stocks

Upper Limit = 18.37% + 2 (38.79%)

= 96.0%

Lower Limit = 18.37% - 2 (38.79%)

= -59.2%

S&P 500

Upper Limit = 11.84% + 2(20.01%)

= 51.9%

Lower Limit =  11.84% - 2(20.01%)

= -28.2%

Corporate Bonds

Upper Limit = 6.47% + 2(6.98%)

= 20.4%

Lower Limit = 6.47% - 2(6.98%)

= -7.5%

T-Bills

Upper Limit = 3.46% + 2(3.14%)

= 9.7%

Lower Limit = 3.46% - 2(3.14%)

= -2.8%

The lower limit show the lowest return achievable given a 95% confidence level.

<em>Only </em><em>Corporate Bonds</em><em> and </em><em>T-Bills</em><em> will give a minimum that is above 8% so they should be chosen. </em>

5 0
2 years ago
performance management requires knowing what activities and outputs are desired, observing whether they occur, and providing fee
mina [271]

The above statement is true.

  • An ongoing, continuous process of articulating and outlining work obligations, priorities, performance standards, and development plans that maximize performance and support organizational objectives.
  • The process of ensuring that a set of actions and outputs achieves the objectives of an organization effectively and efficiently is known as performance management. Performance management can be used to evaluate an employee, a department, a whole business, or the systems in place to handle certain tasks.
  • The performance management cycle is a smaller, continuous four-step process that uses planning, monitoring, reviewing, and rewarding as part of the performance management process or strategy.
  • Performance reviews, key performance indicators (KPIs), and management dashboards are a few examples of performance management procedures or instruments. Performance management is essentially what businesses undertake to increase their success and keep a step ahead of the competition.

Thus this is the meaning of performance management.

To learn more about performance management, refer: brainly.com/question/14506325

#SPJ4

5 0
9 months ago
On November 1, 2021, Aviation Training Corp. borrows $51,000 cash from Community Savings and Loan. Aviation Training signs a thr
nekit [7.7K]

Answer:

1. November 01,2021

Dr Cash 51000

Cr Notes Payable 51000

2. December 31,2021

Dr Interest expense 510

Cr Interest Payable 510

3. February 01,2022

Dr Interest expense 510

Dr Interest Payable 255

Dr Notes Payable 51000

Cr Cash 51,765

Explanation:

Preparation of to record the necessary entries

1. November 01,2021

Dr Cash 51000

Cr Notes Payable 51000

(Being to Record the issuance of note)

2. December 31,2021

Dr Interest expense 510

(51,000*6%*2/12)

Cr Interest Payable 510

(Being to record the adjustment for interest)

3. February 01,2022

Dr Interest expense 510

Dr Interest Payable 255

(51,000*6%*1/12)

Dr Notes Payable 51000

Cr Cash 51,765

(510+255+51000)

(Being to Record the repayment of the note at maturity)

6 0
2 years ago
Your client, Tom, asks you to prepare his financial statements. He is especially curious about his net worth. He asks you to exp
Vilka [71]

Answer: Balance sheet

Explanation: In simple words, balance sheet refers to the statement which is prepared by an entity at the end of the financial year for depicting its assets, liabilities and equity in hand at that particular point of time.

Balance sheet shows the net worth of an entity at the end of the year and can also be used to evaluate how much of the assets are funded with the capital and  for how much any liability has been taken over.

Thus, from the above we can conclude that the correct answer is balance sheet.

6 0
3 years ago
Other questions:
  • Your team has recently experienced some difficulties and setbacks. some of your teammates have expressed their lack of confidenc
    13·1 answer
  • You can insure a $42,000 diamond for its total value by paying a premium of D dollars. If the probability of loss in a given yea
    10·1 answer
  • A new furnace for your small factory will cost $45,000 and a year to install, will require ongoing maintenance expenditures of $
    9·1 answer
  • What should every prepared hunter carry for outdoor emergencies? hunting plan fanny pack global positioning system first-aid kit
    5·1 answer
  • Areas of poorly maintained housing in cities are known as A. apartments. B. high rises. C. slums. D. projects.
    13·2 answers
  • Describe at least three investments you want to make with your income. Explain whether each one is an equity investment or a deb
    15·1 answer
  • List the 6 factors that cause a shift in demand
    5·1 answer
  • Suppose a company makes an investment and opens another factory. In 1 or 2 sentences, explain how this investment directly creat
    14·2 answers
  • Identify and explain two dufference between the public sector and private sector
    13·1 answer
  • suppose that the publisher of this textbook sets the price of the textbook to $90, and the current resale value is $60. at this
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!