The inventory cost flow assumption does inventory on the balance sheet best approximate its current cost is first-in, first-out.
Both the raw materials used in production and the finished commodities that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory because it is one of the main sources of revenue generation and, consequently, a source of profits for the company's shareholders. There are three different categories of inventory: finished commodities, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset.
Both the products that are on hand for sale and the raw materials required to make those products are considered inventory.
On the balance sheet of an organization, it is categorized as a current asset.
The three different categories of inventory are raw materials, finished commodities, and work-in-progress.
The first-in, first-out method, the last-in, first-out method, and the weighted average method are the three methods used to value inventory.
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Answer:
Stated Rate No. of Times Compounded Effective Rate (EAR) %
11.85% Semiannually 12.2 %
12.37% Monthly 13.1%
110.27% Weekly 10.8%
13.54% Infinite 14.5%
Explanation:
EAR = ( 1 + ( APR / m )^m)-1
Semiannually
m = 12 / 6 = 2
0.1220 = ( ( 1 + ( APR / 2 ) )^2) - 1
0.1220 + 1 = (1 + ( APR / 2 ) )^2
1.1220 = ( 1 + ( APR / 2 ) )^2
= 
1.059 = 1 + ( APR / 2 )
1.059 - 1 = APR / 2
0.059 x 2 = APR
APR = 0.1185 = 11.85%
Monthly
m = 12 / 1 = 12
0.1310 = ( ( 1 + ( APR / 12 ) )^12) - 1
0.1310 + 1 = (1 + ( APR / 12 ) )^12
1.1310 = ( 1 + ( APR / 12 ) )^12
APR = 12.37%
Weekly
m = 52
0.1080 = ( ( 1 + ( APR / 52 ) )^52) - 1
0.1080 + 1 = (1 + ( APR / 52 ) )^52
1.1080 = ( 1 + ( APR / 52 ) )^52
APR = 10.27%
Infinite
m = 20,000
0.1450 = ( ( 1 + ( APR / 12 ) )^12) - 1
0.1450 + 1 = (1 + ( APR / 12 ) )^12
1.1450 = ( 1 + ( APR / 20,000 ) )^20,000
APR = 13.54%
Answer:
$6400
Explanation:
Working capital is the net of current asset and current liabilities. it is a financial measure that gives insight into how liquid a company is considering that it shows whether or not the current assets can be used to settle the current obligations or liabilities of the company adequately.
The change in property, plant, and equipment of $48,000 is not an element of working capital, Hence change in working capital
= $8700 - $2300
= $6400
Answer and Explanation:
E) to all firms, whether manufacturing or service.
Answer:
The answer is c.direct labor cost and overhead costs.
Explanation:
Conversion costs include direct labor and overhead expenses incurred in the process of converting raw materials into finished products