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skelet666 [1.2K]
3 years ago
10

The inventory costing method that reports the earliest costs in ending inventory is:_______

Business
1 answer:
nikdorinn [45]3 years ago
4 0

Answer:

a. LIFO.

Explanation:

The LIFO method refers to an inventory method that means the item which is last purchased should be sold first during the period of time. So in this inventory method the earliest cost in the closing inventory should be recorded

Therefore the given situation, the correct option is a.

And, the other options are wrong

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Presented below is information for Marin Company.
hram777 [196]

Answer:

Debit Accounts Receivable for $104,700; and Credit Sales Revenue for $104,700.

Debit Cash for $85,400; and Credit Accounts Receivable for $85,400.

Explanation:

The (summary) journal entries to record the items noted will look as follows:

<u>Particulars                                   Debit ($)             Credit ($)        </u>

Accounts Receivable                  104,700

Sales Revenue                                                         104,700

<u><em>(To record net sales (all on account) for the year.)                        </em></u>

Cash                                             85,400

Accounts Receivable                                               85,400

<u>(Collections on accounts receivable during the year.)                 </u>

3 0
2 years ago
There are a handful of common mistakes people make when trying to
NikAS [45]

Answer:

c. Loss aversion

Explanation:

Loss aversion is a cognitive bias that explains where there is the pain for losing should be twice as equivalent to the gaining pleasure. It is the tendency of an individual to avoid the losses that purchase the equivalent gains. And, the term that not done the given mistake is the loss aversion

So as per the given situation, the option c is correct

8 0
2 years ago
How do u know charmed life caitlin's lucky charm is fiction?
Diano4ka-milaya [45]
I don't know that book, but you know something is fiction when it's something that simply can not happen in real life, also if it's based on a character, like Sammy took a bath when he finished playing soccer, unlike dolphins are mammals, which is nonfiction. Hope this helps! Please rate brainiest answer!
7 0
3 years ago
The cost object(s) of the departmental overhead rate method is: Multiple Choice The unit of product. The production departments
Paraphin [41]

Answer:

The production departments in the first stage and the unit of product in the second stage.

Explanation:

The cost object under the department overhead rate used to allocate the cost based on the cost drivers.

In this departmental overhead rate method, first the overhead is allocated in the first department after that in the second stage the unit of product is done

so that the proper sequencing could be done and actual value could come

5 0
3 years ago
In making single-asset real estate investment decisions, the first pass often involves calculating a series of returns, ratios,
Lostsunrise [7]

Answer:

C. They fail to incorporate cash flows beyond the first year of the analysis.

6 0
3 years ago
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