Answer:
A. Debiting Cost of Goods Sold $7,000
Explanation:
The LIFO is a method used to account value for inventory. Under the method, the last item of inventory purchased is the first one sold.
At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, but a physical inventory taken at year-end indicates only 50 units of this product actually are on hand. So 10 units of the product was shrinkage.
The company should debit Cost of Goods Sold to record this inventory shrinkage.
Anderson Co. use LIFO method, the amount shrinkage product:
10 x $700 = $7,000
<u>Explanation:</u>
The Bangkok treaty of 1901 contains the agreement between Britain and Bangkok to build a railways between Siam and Malayan. Britain was ready to loan a value of 4 Million pound with an interest of 4%.
Also according to the agreement Siam has given the control of four states Kedah, Kelantan,Trengganu and Perlis to Britain. The debts of these four states were borne by Britain. Even financial advisory by Britain did not improve these states. This treaty created a better Siamese and Britain relationship.
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Answer:
Explanation:
hey there.here is your answer
The great economic problem is how to arrange our limited resources to satisfy as many of our wants as possible. Resources are not equally valuable in all uses, so we must choose where to allocate our resources in order to get the most value out of those resources
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