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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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In the month of June, a department had 19900 units in beginning work in process that were 75% complete. During June, 90200 units
balandron [24]

Answer:

103,500 units

Explanation:

Equivalent units calculation - conversion costs

Completed and transferred units (99,100 x 100 %)   = 99,100 units

Ending Work in Process units (11000 x 40%)             =  4,400 units

Total Equivalent units                                                  = 103,500 units

therefore,

The equivalent units of production for conversion costs for June were 103,500 units

7 0
3 years ago
If a computer store dumps waste behind its building in violation of local, state, or federal environmental regulations, the resu
Aneli [31]

Answer:

Environmental law.

Explanation:

If a computer store dumps waste behind its building in violation of local, state, or federal environmental regulations, the resulting dispute focuses on environmental law.

Environmental law is the collection of laws, regulations, agreements and common law that governs <u>how humans interact with their environment</u>.  Environmental laws not only aim to <u>protect the environment from harm</u>, but they also determine who can use natural resources and on what terms.

<u>Environmental law covers Waste Management – Municipal waste, hazardous substances and nuclear waste all fall in the category of waste management.</u>

4 0
3 years ago
The general journal is used to: a. post all accounting entries not posted in other individual journals. b. post all accounting e
hjlf

Answer: The general journal is used to post all accounting entries.

Explanation:

The general journal is the journal where all company transactions are recorded in. In other words, a general journal is the book of original entry where bookkeepers and accountants record business transactions according to the date the transactions take place.

It is the initial place where transactions are recorded, every page in the journal is divided into columns for dates, debit or credit records, serial numbers etc. Some companies keep specialized journals, such as sales journals or purchase journals, which records only a particular type of transactions. When a transaction has been recorded in the general journal, the amount is then posted to the appropriate accounts.

6 0
3 years ago
Read 2 more answers
What are the main advantages and disadvantages of organizing a firm as a​ corporation? the advantages​ are: ​(select all the cho
Elena L [17]

I believe the answers are:

a. there is no limit on the number of owners a corporation may​ have, thus allowing the corporation to raise substantial amounts of capital.

They do this by selling shares on the stock market. When the shares is sold in this place, every individuals who can afford the price of  a single share are eligible to be part owner of the corporation.

b. the life of the business can continue beyond the death of any of the owners.

In corporations, when one of the owners somehow died, the ownership of the corporations would be transferred to the person whould receive the inheritence (usually immdediate family members)

c. the corporation can use the assets of the owners to pay for corporate liabilities.

This happen during the liquidation process. To pay for corporate liabilities, owners had to sell their assets with the equal value of their percentage of their ownership times the amount of liabilities.

4 0
3 years ago
A company sells goods for $150,000 that cost $54,000 to manufacture. Which statement is true? a. The company will recognize sale
kirza4 [7]

Answer:

The correct answer is C

Explanation:

Finished goods are those goods which have been finished or completed through the process of the manufacturing or purchased or bought in the completed form, but not sold yet to the customers.

The finished goods cost or expense is considered to be a asset which is short term in nature, which is expected to be sold in less than a year or period.

So, when the company sold the goods that worth $54,000 to the manufacture for $150,000, this will lead to decrease in the finished goods of the company which worth $54,000.

7 0
3 years ago
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