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levacccp [35]
3 years ago
8

Which of the following statements is correct with respect to inventories? The FIFO method assumes that the costs of the earliest

goods acquired are the last to be sold. It is generally good business management to sell the most recently acquired goods first "Under FIFO, the ending inventory is based on the latest units purchased." FIFO seldom coincides with the actual physical flow of inventory.
Business
1 answer:
jeka57 [31]3 years ago
7 0

Answer:

Under FIFO, the ending inventory is based on the latest units purchased.

Explanation:

First in, first out inventory (FIFO) method values cost of goods sold using the purchase price of the "oldest" units in inventory. This means that the cost of the first units sold will be used to determine COGS.

On the other hand, last in, first out (LIFO) method uses the price of the most recently purchased units to determine the cost of goods sold.

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a. Tara buys only shoes and socks. When the price of shoes goes up, Tara continues buying exactly the same number of socks as be
babymother [125]

Answer: False

Explanation:

Shoes and socks are complementary goods. A complementary good is a good that the demand for the good increases when there is reduction in price of its complement. Complementary goods have a negative cross elasticity of demand i.e. the demand for the good rises when the price of the other good decreases. Assuming "A" is a complement to "B" , a rise in the price of "A" will have a negative effect on the demand for "B".

A reduction in the price of A leads to a positive outcome on the demand for B resulting in an outward shift of its demand curve. The quantity demanded of one good has a direct relationship on the quantity demanded of the other good as they are linked together. When the price of shoes increases, less of socks will be demanded and vice versa.

5 0
3 years ago
One of the sales consultants at Ebhayi furniture store is performing very poorly. She arrives late for work and phones in sick a
klasskru [66]

Explanation:

i will give many works like carpenter and also I give her my position just for one day to maintain the shop . I think if she do shop owner's work she will definitely understand it and she becomes change

(or)

I will bring the same worker like she and the staff will behave rude to her and she becomes change if she understand the rude staff disturbance that how all staffs and customers feel like her. one day her behaviour will change

8 0
3 years ago
Bethany is looking for a Mother’s Day gift for her mom and wants to purchase some type of perfume or cologne. She knows that her
juin [17]

Answer: A) limited decision making

Explanation:

When a customer is experiencing limited decision making, they are looking to make a choice that requires that they spend a decent amount of time doing some sort of research in order to make a decision.

The research time will not be quite extensive that it would require in-depth research, but it should be more than basic time spent on normal purchase decisions.

Bethany is willing to spend time to try the different scents so this is a limited decision making consumer decision.

6 0
4 years ago
[30 PTS + BRAINLIEST]
saw5 [17]

Answer:

C

Explanation:

A farmer would want to look at the economic status of the US because his goal is to sell as much wheat as possible and make the most profit. If he pays no attention to the economy and there's a recession but he still sells his wheat at the normal price, people whose stocks are going down and who are losing money will be unable to, and unwilling to, pay the price. Thus, the farmer must inspect the changing economic statuses of the US to determine the best and most effective way to market out his wheat to the public.

Changes in US racial patterns have no impact on the marketing of the farmer's wheat, so A is incorrect.

The number of births per year is also irrelevant, as is the general population growth numbers because these do not affect the way the farmer will market his crops, so B and D are incorrect.

Hope this helps!

3 0
4 years ago
Read 2 more answers
Jacobs Company had inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.
Volgvan
The answer is c. $210
8 0
2 years ago
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