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mrs_skeptik [129]
2 years ago
9

Which of the following statements is not a characteristic of the LIFO method of pricing inventory? During a period of falling pr

ices, LIFO tends to maximize the amounts of income taxes owed The cost of goods sold is measured in relatively current costs Inventory is valued at relatively current costs During a period of rising prices, LIFO tends to minimize the amounts of income taxes owed
Business
1 answer:
Valentin [98]2 years ago
6 0

Answer:

Inventory is valued at relatively current costs

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold. Inventory would be made up of older purchases not valued at current costs

In periods of rising prices, LIFO  tends to minimise the amounts of income taxes owed because cost of goods would be higher due to inflation and this would reduce profit and hence taxes paid.

On the other hand, in periods of falling prices, LIFO tends to maximize the amounts of income taxes owed because cost of goods sold would be low and this would increase profit and hence taxes paid

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Holding all else constant, an increase in preferences by Mexicans for U.S. goods will ______ the demand for dollars in the forei
Finger [1]

Answer:

D. Increase; increase

Explanation:

Exchange rate is defined as the amount of one currency that can be exchanged for another currency at a particular time.

Demand and supply affects exchange rates of currencies.

Currencies that are in more demand tend to have higher exchange rates, while those with low demand will have low exchange rate.

In this instance an increase in preference for US goods will cause an increased demand for dollars. The dollar becomes stronger against the Peso.

It will take more pesos to purchase the dollar, so equillibrum exchange rate of peso to dollar will increase.

4 0
3 years ago
When performing the managerial task of planning, managers organize people into departments according to the kinds of job-specifi
Shkiper50 [21]

Answer:

decide which goals the organization will pursue and what strategies will achieve those goals.

Explanation:

To perform the planning task, managers identify and select appropriate organizational goals and courses of action; they develop strategies for how to achieve high performance. The three steps involved in the planning area

(1) deciding which goals the organization will pursue,

(2) deciding what strategies to adopt to attain those goals, and

(3) deciding how to allocate organizational resources to pursue the strategies that attain those goals. How well managers plan and develop strategies determines how effective and efficient the organization is—its performance level.

5 0
3 years ago
Almost certainly you have seen vending machines being serviced on your campus and elsewhere. On a predetermined schedule the ven
Nesterboy [21]

Answer:

Fixed Time Period Model

Explanation:

a fixed time period model ensures that level of inventory is checked regularly for all items. therefore from the question, if the vending company checks each machine and fills it with various product the inventory method is <u>Fixed Time Period Model</u><u>.</u>

3 0
3 years ago
What does the Lorenz Curve illustrate about the economy?
Alex_Xolod [135]

Answer:

Lorenz curve can be understood as a graphical representation of distribution of wealth or income among the population in a given economy.

Explanation:

Lorenz Curve was proposed by Max O. Lorenz in the year 1905 to represent inequality in the distribution of income among the given population. This curve illustrates that the distribution of wealth is not equal, where one section of the population has all the wealth or income of the economy and the other section of the population is left with none. Whereas in the case of perfect equality, each section of the population should receive an equal amount of wealth of the economy. This means that N% of the society should always have N% of income and not more and not less than that. Thus, this situation is hypothetical and thus, the idea of the Lorenz Curve comes into consideration.

6 0
3 years ago
EB1.
GaryK [48]

Answer:

1,350 units; 918 units

Explanation:

Ending inventory:

= Beginning inventory + Units started - Units completed and transferred

= 750 + 9,500 - 8,900

= 1,350

Equivalent units of ending work in process for Materials:

= 100% complete × Ending inventory

= 100% × 1,350

= 1,350 units

Equivalent units of ending work in process for Conversion:

= 68% complete × Ending inventory

= 68% × 1,350

= 918 units

3 0
3 years ago
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