If you sell only one or just a few items your business is

in times of rising prices, cost of goods sold determined using the lifo inventory assumption typically will be than cost of good

LenKa [72]

When prices are rising, the Cost of Goods Sold according to LIFO will be <u>higher </u>than cost of goods sold under FIFO.

Last-In, First-Out (LIFO) refers to a company selling off the latest inventory that it receives first before the inventory it received earlier.

When prices are rising, LIFO will result in a higher COGS because:

Purchases will be high
Closing stock will be low on account of only the earlier cheaper inventory being left

In conclusion, LIFO results in cost of goods sold being higher because the closing stock which is deducted from COGS will be lower.

<em>Find out more at brainly.com/question/16379786. </em>

3 0

3 years ago

19. 14 oz of gold equals how much in dollars.

Dmitrij [34]

Answer:

14 Troy Ounces of Gold is Worth

U.S. dollars (USD) 24,984

Euros (EUR) 22,105

British pounds (GBP) 18,756

Explanation:

How much is an ounce of 14 gold?

Image result for price of gold 14oz

The current stock price for pure gold (. 999 gold) per ounce is $1786.69. That means that one ounce of 14K gold is worth $1046.26.

...............................................................................................................................................

Is Gold a Good Store of Value?

For long periods of time, yes, gold is an excellent store of value.

Until 1971, the U.S. was on the gold standard. This meant that the price of gold was fixed at $35 per troy ounce. Since that time however, the price of gold has increased by about 8% per year, more than twice the rate of inflation, and much more than bank interest rates.

This doesn't mean that there haven't been ups and downs. Between 1980–2000, the price of gold declined considerably.

However, with governments printing more and more money due to the coronavirus and pension crises, it seems likely that gold will continue to hold its value well.

...............................................................................................................................................

Troy Ounces USD Value

14.00 $24,984

14.01 $25,001

14.02 $25,019

14.03 $25,037

14.04 $25,055

14.05 $25,073

14.06 $25,091

14.07 $25,108

14.08 $25,126

14.09 $25,144

14.10 $25,162

14.11 $25,180

14.12 $25,198

14.13 $25,216

14.14 $25,233

14.15 $25,251

14.16 $25,269

14.17 $25,287

14.18 $25,305

14.19 $25,323

14.20 $25,340

14.21 $25,358

14.22 $25,376

14.23 $25,394

14.24 $25,412

Troy Ounces USD Value

14.25 $25,430

14.26 $25,448

14.27 $25,465

14.28 $25,483

14.29 $25,501

14.30 $25,519

14.31 $25,537

14.32 $25,555

14.33 $25,572

14.34 $25,590

14.35 $25,608

14.36 $25,626

14.37 $25,644

14.38 $25,662

14.39 $25,680

14.40 $25,697

14.41 $25,715

14.42 $25,733

14.43 $25,751

14.44 $25,769

14.45 $25,787

14.46 $25,804

14.47 $25,822

14.48 $25,840

14.49 $25,858

Troy Ounces USD Value

14.50 $25,876

14.51 $25,894

14.52 $25,912

14.53 $25,929

14.54 $25,947

14.55 $25,965

14.56 $25,983

14.57 $26,001

14.58 $26,019

14.59 $26,036

14.60 $26,054

14.61 $26,072

14.62 $26,090

14.63 $26,108

14.64 $26,126

14.65 $26,144

14.66 $26,161

14.67 $26,179

14.68 $26,197

14.69 $26,215

14.70 $26,233

14.71 $26,251

14.72 $26,268

14.73 $26,286

14.74 $26,304

Troy Ounces USD Value

14.75 $26,322

14.76 $26,340

14.77 $26,358

14.78 $26,376

14.79 $26,393

14.80 $26,411

14.81 $26,429

14.82 $26,447

14.83 $26,465

14.84 $26,483

14.85 $26,500

14.86 $26,518

14.87 $26,536

14.88 $26,554

14.89 $26,572

14.90 $26,590

14.91 $26,607

14.92 $26,625

14.93 $26,643

14.94 $26,661

14.95 $26,679

14.96 $26,697

14.97 $26,715

14.98 $26,732

14.99 $26,750

5 0

2 years ago

Which of the following is true of assigning costs to cost objects? a.Assigning costs to cost objects can be accomplished in a nu

podryga [215]

Answer:

A and B.

Explanation:

Understand cost classification used for assigning costs to cost objects can be divided in direct costs and indirect costs.

Direct costs are those who can be easily and conveniently traced to a unit of product or other cost object. Examples are direct material and labor.

Indirect costs are those who cannot be easily and conveniently traced to a unit of product or other cost object. Example manufacturing overhead.

The common costs are the indirect costs incurred in support a number of cost objects. These costs cannot be traced to any individual cost object.

Determining cost tracing and allocation is more art than science, as it's difficult to trace costs with 100 percent accuracy.

Tracing costs becomes even more difficult when a cost goes toward producing multiple goods or services.

3 0

3 years ago

Joan is a manager with Steel Works, Inc. Joan would love to beat the budget this year. She believes that revenues for the coming

vredina [299]

The amount of $130,000 in Expenses will be the least likely to be budgeted for while building a budgetary slack.

<h3>What is a budgetary slack?</h3>

This is a special consideration in a budget that seeks to increase the chances of the actual performance being better than the budget.

Joan will likely budget for $110,000 of expenses, $210,000 of revenue and $80,000 of income.

Therefore, the amount of $130,000 in Expenses will be the least likely to be budgeted for