FIFO will result in higher pretax income and EPS.
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.
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Answer:
B) search for solutions that are reasonable
Explanation:
When Emily solves her work problems by satisficing a large number of decisions, it means that she makes the decisions that are barely adequate to solve the issues. She doesn't take the time to make the best possible ones. Since she has a very tight work schedule, she doesn't have the time to search all the necessary information nor to search all the possible options. She doesn't have the time to analyze which alternative is best, she will take whatever option she finds first.
The correct option is C.
The Taft Hartley Act is a United States federal law which limits the activities and powers of labour unions. The Act was enacted in 1947 and it prohibits some union practices, it also requires improvement in union disclosure of political and financial dealings. <span />
The accounting entries for Rippen Corporation is recorded as follows:
December 3,
DR Accounts Receivable (Burnen Corp.) $480,000
CR Sales $480,000
DR Cost of Goods Sold $320,000
CR Inventory $320,000
December 8,
DR Sales Return $30,000
CR Accounts Receivable $30,000
DR Inventory $20,000
CR Cost of Goods Sold $20,000
December 12,
DR Cash $441,000
DR Credit Discount $9,000
CR Accounts Receivable $450,000
<h3>What is Journal Entry?</h3>
A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.
The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.
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