Answer:
The primary cost associated with the level production strategy is the cost of
A.holding inventory.
Answer:
D)determines the inventory on hand only at the end of the accounting period.
Explanation:
Due to the fact of <em>inflation, </em>change of prices over time, a periodic inventory system does not provide a better record over the cost of inventory because it is only determined once in the accounting period, usually at the end of it.
Meanwhile, a perpetual inventory system keeps a record showing the inventory at all time. That is every time a sale is made, cost of goods sold (cogs) is determined.
So if a business does not need to wait until the end of the accounting period to check (cogs), it is better to use a perpetual system.
Answer:
The correct answer is letter "D": first-in, first-out.
Explanation:
A business using the first-in, first-out (FIFO) inventory valuation approach must sell, use or dispose first of all the products it produced or acquired. According to the FIFO process, the most recent assets purchased or generated are those that remain in inventory. Older stock is first removed from inventory.
Answer:
D. Product Invention
Explanation:
KFC added many items in the menu list when they opened their restaurants at China. By doing this KFC tries to incorporate the local cuisine of Chinese foods into their menu.
In China, KFC invented a new dish and named it the "Dragon Twister". In this dish, it contains a chicken wrap with Peking duck sauce on it. It highly resembles the local food of China.
Thus KFC tries to promote and do marketing of its product in China by inventing new dishes which is similar to the local Chinese food and adding it to the menu list of KFC.
By this, Chinese people will be attracted towards KFC and will come to try their newly invented "Dragon Twister".
Thus, the answer is D. Product Invention.
