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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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Variable Input Fixed Input Output Marginal Physical Product of Variable Input Total Fixed Cost Total Variable Cost Marginal Cost
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Answer:

$21.67

Explanation:

Exhibit 21-3 is attached with the answer .Please find it.

Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.

Cost of producing 60 units

Variable cost = $800

Fixed cost = $500

Total cost = $800+500 = $1,300

Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67

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Sam wanted to open a file that he saved yesterday. Which component inside the computer stores this file?
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The answer would be hard drive
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Amount invested in both schemes is $45,000
returns in investment g is 75,000 in 6 years. 
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3 years ago
Suppose Scott has a budget of $56 that he spends on movies (Q1) and roller skating (Q2). The price of movie tickets recently inc
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1.6 Q1 + 0.875 Q2 = $56

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Answer:

The correct answer to the given above question is Zone of tolerance.

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