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Answer:
Extreme value retailers
Explanation:
Extreme value retailers are those retailers in which there offered limited assortment related to household goods, grocers, health, beauty cost at less cost. These are operating in urban or rural areas. They buying the inventory in excess from the manufacturers so that it could be increased its sales by offering at low prices
Therefore the given situation represents the Extreme value retailers scenario
Answer:
1. Ending inventory (FIFO) = $ 14720
Cost of goods sold (FIFO) = $ 10120
2. Ending inventory (average cost) = $ 14720
Cost of goods sold (average cost) = $ 10120
Explanation:
The FIFO method is a system that facilitates the immediate exit of merchandise that first entered the warehouse. Hence the term "First In First Out". In this way, the stock is constantly renewed, and avoid keeping products in the warehouse for a long time.
This method basically consists giving out of the inventory those products that were purchased first, so that in the inventories will be those most recently purchased products.
Weighted average method is used to make an inventory valuation, taking average values for both the merchandise in stock and costs of merchandise sold.
<em>(See attached inventory spreadsheet to calculate value of FIFO and Average ending inventory).
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Answer:
Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg – met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation's banking system.
Explanation:
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Jobs created by pollution-control will offset those that may be lost
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