Answer:
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Answer:
$232,825
Explanation:
Step 1: Calculation of cost of goods sold (COGS) under First In First Out (FIFO)
Since we know that;
Ending inventory = Beginning inventory + Purchase - COGS of FIFO
Therefore, we can rearrange to make COGS the subject of the formula and substitute the values as follows:
COGS under FIFO = Beginning inventory + Purchase - Ending inventory
= $110,000 + $237,500 - $114,000 =
COGS under FIFO = $233,500
Step 2: Calculation of COGS under Last In First Out (LIFO)
COGS under LIFO = COGS under FIFO - Rise in LIFO reserve
= $233,500 - $675
COGS under LIFO = $232,825
Therefore, the value of COGS LIFO for Brady Inc. in 2018 is $232,825.
That means they arnt paying you a lot or there not making more that there selling
Answer: operations
Explanation:
At the time when products and services are produced or provided to customers, the functional area that is responsible for ensuring that those products and services meet high quality standards is operations.
The people in the operations department are in charge of managing activities that relates to production of goods and services. Some if their functions are managing operations, embracing design, performance improvement, planning, control, and operations strategy.
Answer:
True or False Statements about the conceptual framework:
(a) False: The fundamental qualitative characteristics that make accounting information useful are relevance and faithful representation, which suggest materiality and completeness respectively.
(b) False: Relevant information must also be material in a financial statement user's decision, in addition to having predictive and confirmatory values.
(c) False: It is information that is relevant that is characterized as having predictive or confirmatory value, and not information that shows faithful representation.
(d) False: Comparability also refers to comparisons of a firm over time (which is appropriately described as consistency). This is in addition to the similar reporting of information by different companies.
(e) False: Enhancing characteristics do not relate only to faithful representation but also to relevance.
(f) True.
Explanation:
Faithful representation implies completeness. Relevance means that the disclosure will attract important consideration and is material to the matter. Therefore, users of financial reports base their decisions on relevant information and not irrelevant details.
