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Triss [41]
3 years ago
15

The LIFO inventory cost flow assumes that the cost of the newest goods purchased are: A. assumed to be the first ones sold. B. a

ssumed to be the first ones included ending inventory. C. not included in cost of goods sold or ending inventory. D. assumed to be the last ones to be sold.
Business
1 answer:
Nonamiya [84]3 years ago
6 0

Answer: A. assumed to be the first ones sold.

Explanation:

Last in, first out is a method that's used in inventory such that the items that are produced recently will be the ones that will be sold first.

Using this method means that the goods recently produced or bought will be the first to be sold and recorded as cost of goods sold. This therefore means that the report on the inventory will be the lower cost of the old products.

Therefore, the LIFO inventory cost flow assumes that the cost of the newest goods purchased are assumed to be the first ones sold.

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Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has investe
gtnhenbr [62]

Answer:

Crawford Construction

1. Crawford Construction sold and replaced its inventory:

a. 4.14 x

2. With Construction Industry Inventory Turnover Ratio as 4.55x, Crawford Construction:

b. Crawford Construction is holding more inventory per dollar of sales compared to the industry average

Explanation:

a) Data and Calculations:

Quick ratio = 2.00x,

Cash = $36,225

Accounts receivable = $20,125

Inventory = x

x= $80,500 - 36,225 - 20,125 = $24,150

Total current assets = $80,500

Total current liabilities = $28,175

Annual sales = $100,000

Using annual sales instead of cost of goods sold to calculate the inventory turnover, = Turnover/Inventory = $100,000/$24,150 = 4.14x

b) Quick ratio equals (Current assets - Inventory)/Current Liabilities.  Computing the quick ratio in place of the current ratio can be used to identify how Crawford Construction can meet its current (short-term) debts without selling inventory and recovering funds from the sale.

c) The Inventory Turnover Ratio divides the cost of goods sold by the average inventory.  The Sales value can approximate the cost of goods sold.  The ratio shows the efficiency of Crawford Construction in handling its inventory.  The higher the value of the ratio, the better, showing that Crawford is more efficient when it gets a higher turnover ratio.

7 0
3 years ago
Can you arrest someone with a bench warrant?? Please help
lukranit [14]
You can arrest someone with a bench warrant.
6 0
3 years ago
Read 2 more answers
Eunice buys a worm farm. She plans to sell a small carton of worms to people who want to fish for $3. Her fixed costs are $1,201
Evgesh-ka [11]

Answer:

C. 534  units

Explanation:

The formula to compute the break-even point is shown below:

= (Fixed cost) ÷ (Contribution margin per unit)  

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit  

= $3 - $0.75

= $2.25

So, the break-even point would be

= $1,201 ÷ $2.25 per unit

= 534 units

Simply we divide the fixed cost by the contribution margin per unit so that the accurate units can come.

3 0
3 years ago
can produce two types of light fixtures, the indoors model and the outdoors model. if the total sales are expected to be 21,050
mars1129 [50]

Answer:

$1,000,000    

Explanation:

The computation is shown below:

<u> Particulars               Indoors Model                Outdoors Model            Total </u>

No of Units

(21,050 in ratio 2:3)     8,420                                   12,630                  21,050

Sales                          1,263,000                            2,778,600            4,041,600

Less: Variable costs   168,400                                 505,200              673,600

Contribution margin   1,094,600                            2,273,400               3,368,000

Less: Fixed costs

(2,160,000 + 208,000)                                                                    2,368,000

Operating Income                                                                           1,000,000

7 0
3 years ago
Bradley, the president of Commerce &amp; Trade, Inc., claims that certain actions by the federal government and the state of Del
olga nikolaevna [1]

Answer:

The correct answer is B

Explanation:

The Bill of Rights is the one which guarantees the liberties as well as the civil rights to the individual such as the religion, press and freedom of speech.

It states the rules for the procedure which is due for the law and also reserves all the powers not delegated to the Federal Government to the States or the people.

Therefore, the one where all the rights limit the federal government.

5 0
3 years ago
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