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Fittoniya [83]
3 years ago
10

During periods of decreasing costs, the use of the LIFO method of costing inventory will result in a lower amount of net income

than would result from the use of the FIFO method.
a. True
b. False
Business
1 answer:
gladu [14]3 years ago
7 0

Answer:

b. False

Explanation:

LIFO stand for Last in First Out. This means LIFO inventory valuation is based on earlier goods purchased.

So, when costs are decreasing, they are affecting latter prices and this usually affect FIFO (First in First Out) not LIFO.

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Answer:

b. Company Name's Return Policy

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According to study, over 60% of customers review a Return/Refund Policy before they make a purchasing decision. It is the single most important agreement that e-commerce store needs to have as it can affect its customer retention rate.

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If you spend $35 using a credit card, you have created:
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<span>If you spend $35 using a credit card you have created, a $35 financial liability for yourself. </span>
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How do we prepare for unexpected expenses that might disrupt the implementation of a budget, and allow us to avoid long term hig
ikadub [295]
Out of the money you make set some aside for unexpected expenses
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The budgeted unit sales of Weller Company for the upcoming fiscal year are provided below:
Damm [24]

Answer:

Total administrative expense= $317,000

Explanation:

Giving the following information:

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1st Quarter= 15,000

2nd Quarter= 16,000

3rd Quarter= 14,000

4th Quarter= 13,000

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-Fixed selling and administrative expenses include advertising expenses of $8,000 per quarter

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1st Q:

Variable= 2.5*15,000= $37,500

Fixed= 8,000 + 35,000= $43,000

2nd Q:

Variable= 2.5*16,000= $40,000

Fixed= 8,000 + 35,000= $43,000

3rd Q:

Variable= 2.5*14,000= $35,000

Fixed= 8,000 + 35,000= $43,000

4th Q:

Variable= 2.5*13,000= $32,500

Fixed= 8,000 + 35,000= $43,000

Total administrative expense= $317,000

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It leads to voluntary exchange.

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