Answer:
Dr Cost of Goods Sold 20,000
Cr LIFO Reserve (20,000
)
Explanation:
<u>Journal Entr</u>y
Dr Cost of Goods Sold 20,000
Cr LIFO Reserve (20,000
)
<u>Ending Balances after adjustment</u>:
<u>Stocks</u>:
Inventories 375,000
<u>LIFO Reserve </u> <u> (55,000
)</u>
Total: 320,000 ( Financial Statement and Income Tax compliance )
Answer:
Inventory system
Explanation:
The inventory system is the system that contains the set of policies and the control that checks the inventory levels and measured what kind of level should be maintained also when the stock would be replenished and how quickly the larger order so this system we called as an inventory system
So the same is relevant and considered too
Answer:
The correct answer is letter "D": All of these are correct.
Explanation:
The Free Rider Problem refers to someone being able to gap for less or even for free what others pay more for. The problem arises when individuals are unwilling to pay their fair share for something that most others pay for. The problem is more often while talking about public goods. To avoid this issue, some sort of special must be given to consumers such as discounts, promotions for subscriptions or special information online.
ANSWER: The correct answer is True. Consumer price Index computes inflation or market basket of consumers.
Explanation: It measures the price changes in the goods or services basket for consumers which represents the consumption expenditure in the economy. It is calculated on various categories or sub- categories like,urban or rural. It measures the inflation rate and scans the percentage change of the index over a period of time. It measures increase in the price of households basket.