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Volgvan
3 years ago
8

assuming that prices rise over time, which inventory cost flow assumption will result in the lowest cost of goods sold?

Business
1 answer:
12345 [234]3 years ago
3 0

Answer: FIFO

Explanation:

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3 years ago
During the current year, Reed Consulting Group acquired long-term available-for-sale securities at a $70,000 cost. At its Decemb
kipiarov [429]

Answer:

Account                                             Debit                             Credit

Unrealized loss (Equity)                    $12,000

Fair Value adjustment (Avaliable                                         $12,000

for sale)

Explanation:

Given Data:

Long-term available-for-sale securities=$70,000

December 31, Securities fair values=$58,000

Required:

The necessary year-end adjusting entry related to these securities.

Solution:

Unrealized Loss occurred=$70,000-$58,000

unrealized Loss occurred=$12,000

Adjusting entry:

Account                                             Debit                             Credit

Unrealized loss (Equity)                    $12,000

Fair Value adjustment (Avaliable                                         $12,000

for sale)

3 0
4 years ago
Transaction processing systems tightly integrate the functional area information systems via a common database.
liubo4ka [24]

Answer:

(A) True

Explanation:

Transaction processing systems tightly integrate the functional area information systems via a common database.

5 0
4 years ago
According to your text, in the broadest terms, the "marketplace" refers to:_________
OLga [1]

Answer:

A. The World of trade

Explanation:

The marketplace is an economic system where companies compete with each other in order to sell their products. It is a place where trade occurs. In the broadest terms, a marketplace is the world of trade where buying of goods and services takes place.

8 0
4 years ago
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