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Sholpan [36]
3 years ago
5

Millburg Corp. uses the periodic inventory method. Millburg's beginning inventory is $10,000. During the year, Millburg purchase

s $8,000 of inventory. Ending inventory is $5,000. Cost of goods sold is
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:  $13,000

Explanation:

Given that,

Beginning inventory = $10,000

Inventory purchased = $8,000

Ending inventory = $5,000

Company uses the periodic inventory method,

Cost of goods sold = Beginning inventory + Inventory purchased - Ending inventory

                                = $10,000 + $8,000 - $5,000

                                = $13,000

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An annual report for International Paper Company included the following note:The last-in, first-out inventory method is used to
Vilka [71]

FIFO method :

Amount of Net Ducome GA per F1 Fo

Net Income (After Tan) $2144 mule

Add Income Tan Changed

(2144 X 100/70) X 30%. 76                                                   $918.857 rude

                                                                                              $3062.857 nis                                                          

Add Closing Inventory Incrare as bei FIFO                              293

Lesso Open Deventory Ducres asper FIFO                        (290 nulls)

Income before Taxes                                                            3065.857 null

Income Taxes 30 y.                                                               (919.757 null)

Net Income                                                                            2146. to Pullen

FIFO ("first in, first out") is based on these production costs, assuming that the oldest products in a company's inventory are sold first. The LIFO (last in, first out) method assumes that the newest product in the company's inventory was sold first, and uses that cost instead.

FIFO (First In, First Out) Inventory Management evaluates inventory to reduce the likelihood of business losses when products are phased out or discontinued. LIFO (last in, first out) inventory management is suitable for non-perishable goods and uses the current price to calculate the cost of goods sold.

Learn more about FIFO at

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6 0
1 year ago
Sinto Investments is in the process of developing a 300-mile toll road that will run through federal land. Sinto will likely nee
Bas_tet [7]

Answer: Sinto will likely need an environmental impact statement.

Explanation: An environmental impact statement is a statement that is required when an activity that will affect the human environment is about to be carried out. This statement highlights the pros and cons of the activity that is to be carried out in the environment. Like in the question, a 300-mile toll road that will run through federal land will definitely have an impact on the environment, hence the requirement for an environmental impact statement.

4 0
4 years ago
Imagine that an exchange student from China visits your class. While your teacher discusses how the United States has a limited
Marrrta [24]

The point best highlights about the US government limited power is that limited government protects individual freedoms. Thus the option (C) is correct.

<h3>What is Government?</h3>

Government refers to the group of individual governing the nation. The main role of the government is the protect of its territory from the outsiders. It functions in various sectors such as health, education, defense, infrastructure etc.

As per the above scenario, a Chinese students asks his teacher that why the American government has the limited power the best reason for the limited power is government protects the individual freedom by diving the power into many hands.

With the distribution of the power in the different branches has led to the enjoy the individual freedom. Thus the option (C) is correct.

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8 0
2 years ago
According to the model of mass-mediated communication, which of the following statements is not true?
Maslowich

Answer:

The correct answer is D. All of these.

Explanation:

Mass media are the media received simultaneously by a large audience. Mass communication is the name that receives the interaction between a single broadcaster (or communicator) and a massive receiver (or audience), a large group of people who simultaneously meet three conditions: being large, being heterogeneous and being anonymous. The mass media are only instruments of mass communication and not the communicative act itself.

3 0
3 years ago
If the price of a good falls by 10% and the percentage increase in the total amount consumers spend on the good is 10%, then the
lesya692 [45]

Answer:

well if you haves a 10% that's gonna be increasing but the real answer is 20% that's your answer

4 0
2 years ago
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