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Lady_Fox [76]
3 years ago
9

Which of the following is false regarding the FIFO inventory method?

Business
1 answer:
puteri [66]3 years ago
4 0

Answer: All of the other answer choices are true.

Explanation:

FIFO simply refers to “First-In, First-Out” and the method assumes that the oldest goods that are in the inventory of a company have been sold first and therefore, the costs that are paid for them will be used for the calculation.

The following are true regarding the FIFO method:

• FIFO under a perpetual inventory system results in the same cost of goods sold as FIFO under a periodic inventory system.

• A company can choose to account for the flow of inventory using the FIFO method even if this doesn’t match the actual flow of its inventory.

• Perishable goods often follow an actual physical flow that is consistent with the FIFO method assumptions.

Therefore, the correct option is D as all are true.

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Jeff, a local traffic​ engineer, has designed a new pedestrian foot bridge that is capable of handling the current traffic rate
Delicious77 [7]

Answer:

a. How long will the current bridge system work before a new bracing system is​ required?: 64.18 years or 64 years and 2 months.

b. What if the annual traffic rate increases at 8 ​% ​annually: The bracing system will last for 24.65 years or 24 years and 7 months.

c. At what traffic increase rate will the current system last only 12 ​years: 17.13%

Explanation:

a. Denote x is the time taken for the number of pedestrian to grow from 300 to 2000. The current pedestrian is 300, the grow rate per year is 3% or 1.03 times a year. Thus, to reach 2,000, we have the equation: 300 x 1.03^x = 2000. Show the equate, we have 1.03^x = 6.67 <=> x = 64.18

b.  Denote x is the time taken for the number of pedestrian to grow from 300 to 2000. The current pedestrian is 300, the grow rate per year is 8% or 1.08 times a year. Thus, to reach 2,000, we have the equation: 300 x 1.08^x = 2000. Show the equate, we have 1.08^x = 6.67 <=> x = 24.65.

c. Denote x as traffic increase rate. The current pedestrian is 300, the grow rate per year is (1+x) times a year. Thus, to reach 2,000 after 12 years and thus a new bracing system to be in place, we have the equation: 300 x (1+x)^12 = 2000. Show the equate, we have (1+x)^12 = 6.67 <=> 1+x = 1.1713 <=> x = 17.13%.

8 0
3 years ago
What the single greatest factor in safety and health programs’ failure to completely keep us free of workplace accidents is, why
Lady_Fox [76]
The answer to this is probably something like the human factor or a human error. That is because no matter how great the conditions are, you can't prevent people from making a mistake eventually and this can include even simple things like falling down stairs. What you can do is make sure you get good employees, but even those banal injuries still count as a workplace accident and the worker needs to be paid and covered to mend it.
8 0
3 years ago
An idea from monetarism that has been absorbed into mainstream macroeconomics would be the Multiple Choice effects of aggregate
vladimir1956 [14]

Answer:

ghghghghtrgbygdklkjhyutrgewq

Explanation:

5 0
2 years ago
The following table shows a tool and die company's quarterly sales for the current year. What are sales for the first quarter of
bagirrra123 [75]

Answer:

Quarter 1, Sales 88. seasonal relatives 1.1

Deseasonalized = 88 / 1.1 = 80

Quarter 2, Sales 99. seasonal relatives 0.99

Deseasonalized = 99 / 0.99 = 100

Trend = 80+(100-80) = 100

Reseasonalized  = 100*0.99 = 99

Quarter 3, Sales 108, seasonal relatives 0.9

Deseasonalized = 108 / 0.9 = 120

Trend = 1000+ (120-100) = 120

Reseasonalized  = 1120*0.9 = 108

Quarter 4, Sales 141.4, seasonal relatives 1.01

Deseasonalized = 141.1 / 1.01 = 140

Trend = 120+ (140-120) = 140

Reseasonalized  = 140*1.01 = 141.4

Now to get the Naive trend forecast for the next year first quarter, we say

140 + (140 - 120) = 160

Also to get the Re-seasonalized forecast for the next year first quarter, we say

160*1.1 = 176

6 0
3 years ago
Tott Company has the following internal control procedures over cash disbursements. Identify the internal control principle that
frozen [14]

Answer: a) Documentation Procedures

b) Independent Internal Verification

c) Physical Control

Explanation:

I'll list the internal control principle in bold letters and then explain them a little.

(a) Company checks are prenumbered. DOCUMENTATION PROCEDURES.

These are meant to provide a paper trail to identify the events that occur in a company and pre numbering check ensures that the number is always known.

(b) The bank statement is reconciled monthly by an internal auditor. INDEPENDENT INTERNAL VERIFICATION.

Here the company runs its own checks and balances to ensure that they are in good shape.

(c) Blank checks are stored in a safe in the treasurer’s office. PHYSICAL CONTROL.

This refers to the use of physical devices to keep documents and assets safe and can include safes, vaults and safety deposit boxes.

5 0
3 years ago
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