The cover letter should be short and direct.
B. Finance a car. If they need to use one yearly, then it would be best to finance one and pay it off over time
Answer:
Question 1
b. $100,000
Question 2
(a) Goods held on consignment from another company.
Explanation:
Question 1
Calculation to determine what the cost of the ending inventory under LIFO is
Using this formula
Cost of the ending inventory =(Inventory, Jan. 1 Units*Cost )+[(Dec 31 Units on hand- Inventory, Jan. 1 Units)*Purchase, June 19 Cost ]
Let plug in the formula
Cost of the ending inventory =(8,000 * $11) + (1,000 *$12)
Cost of the ending inventory =$88,000+$12,000
Cost of the ending inventory =$100,000
Therefore the cost of the ending inventory under LIFO is $100,000
Question 2
GOODS HELD ON CONSIGNMENT FROM ANOTHER COMPANY should NOT be included in the PHYSICAL INVENTORY of a company but rather be included in the inventory of the sender of the goods which is the CONSIGNOR.
Answer:
The correct answer is letter "A": opinion leader.
Explanation:
An opinion leader is a person who, due to the expert status obtained and because that individual represents a trusted source, has a major influence within a given group. Opinion leaders tend to be charismatic, well-known, and serve as a community leader. Moreover, opinion leaders must have an in-depth knowledge of the issue involving the group.
