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vredina [299]
3 years ago
13

the inventory method that will always produce the same amount for the cost of goods sold in a periodic invenotry system as

Business
1 answer:
liraira [26]3 years ago
4 0

Answer:

FIFO.

Explanation:

Note: This question is not complete. The complete question is therefore given before answering the question as follows:

The inventory method that will always produce the same amount for cost of goods sold in a periodic inventory system as in a perpetual inventory system would be:

FIFO.

LIFO.

Weighted average.

None of these answer choices is correct.

The explanation to the answer is now given as follows:

First-in, first-out (FIFO) is an inventory method under which the oldest inventory items are recorded in the account as being issued or sold first.

A periodic inventory system refers to an inventory valuation method under which there is an update to the inventory account at the end of an accounting period instead of after every sale and purchase of inventory items.

A perpetual inventory system to an inventory valuation method under which there is an update to the inventory account after every sale and purchase of inventory items. This is done by using computer softwares such as computerized point-of-sale systems and enterprise asset management software.

When FIFO inventory method is being used, both the periodic inventory system and perpetual inventory system will always produce the same amount for cost of goods sold.

Based this explanation, the correct option for this question is FIFO.

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A product is invented in Country X and is first manufactured there. The International Product Life Cycle Theory holds that the p
kirza4 [7]

Answer:

False

Explanation:

International Product Cycle is a model that patterns international manufacturing & trade of product . It has 4 stages :

  • Introduction - Innovated Invention in a developed country. Limited production & consumption, no competition
  • Growth - Spread to other developed countries, foreign production & competition starts, consumption & coverage rise.
  • Maturity - Spread to developing countries, stagnant growth in developed countries & fast growth in less developed countries
  • Decline - Spread to less developed countries, technology outdated, various substitutes emerge & no. of sellers decline, demand still exist in less developed countries.

So: the next stage after 'Innovated Invention' in a developed country X is - its growth in other developed countries, not 'manfacturing in developing countries' (reflected in 3rd maturity stage).

7 0
3 years ago
The _____ is a law passed in 1914 that seeks to prevent practices that may cause injury to customers, that cannot be reasonably
spin [16.1K]

Answer:

The Federal Trade Commission Act is a law passed in 1914.

8 0
3 years ago
Tom transfers a building that originally cost $40,000 to Paul Corp. in exchange for 100% of the corporation's stock. the adjuste
Korolek [52]

Answer:

Gain recognized by Tom is $10000

So option (b) will be correct answer

Explanation :

We have given liability on bulding assumed by Paul Corp = $30,000

Tom's adjusted basis in the building = $20,000

Since the liability assumed by Paul Corp on the building is greater than Tom's adjusted basis, Tom must recognize gain equal to the difference between the liability on the building and his adjusted basis.

So gain recognized by Tom = $30,000 - $20,000 = $10,000

4 0
3 years ago
lanier company manufactures expensive watch cases sold as souvenirs. three of itssales departments are retail sales, wh
Nataly [62]

Mary Gammel's responsibility in the firm is to monitor the results of profit center because it is the key driver of the total results of the company.

<h3>What is Mary Gammel position?</h3>

She is a manager in the retail sales department which is a profit center in the firm because it is saddles with role of supervising the team of sales representatives who works with customers.

Hence, Mary Gammel's role is to monitor the results of profit center because it is the key driver of the total results of the company.

Missing words "<em>Mary Gammel is a manager in the Retail Sales Department. Determine what should be included in the responsibility report of the manager</em>"

Read more about retail sales department

<em>brainly.com/question/930797</em>

#SPJ1

3 0
1 year ago
Nice Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Selli
attashe74 [19]

Answer:

Therefore, the change in total contribution margin is equal to change in net operating income, so there is no change in fixed expenses  and will not be affected.

Explanation:

The computation as per given question is given below:-

Variable cost per unit

= $48 + $65

= $113

Contribution margin per unit

= $240 - $113

= $127

Unit Monthly sales

= 1,500 + 240

= 1,740

Total contribution margin

= 1,740 × $127

= $220,980

Total contribution margin

= 1,500 × $192

= $288,000

So, change in total contribution margin and net operating income

= $288,000 - $220,980

= $67,020

Therefore, the change in total contribution margin is equal to change in net operating income, so there is no change in fixed expenses  and will not be affected.

6 0
3 years ago
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