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Kipish [7]
2 years ago
15

If inventory increases under the retail method, which of the following is true: a. Under the Average Cost retail method, a new l

ayer would be added. b. All of these are true. c. Under the Dollar Value LIFO retail method, no new layer would be added. d. Under the LIFO retail method, a new layer would be added.
Business
1 answer:
NeTakaya2 years ago
3 0

Answer:

d. Under the LIFO retail method, a new layer would be added.

Explanation:

The retail method is used to estimate ending inventory/cost of goods sold and is  widely used for financial reporting purposes, especially for quarterly financial statements. Retail methods are usually used with the weighted average cost flow assumption, FIFO or LIFO.

Now when the inventory increases under the retail method, LIFO retail method is the best to use because it gives you the highest cost of goods sold and the lowest taxable income. LIFO layer refers to a tranche of cost in an inventory costing system that follows the last-in, first-out (LIFO) cost flow assumption. Therefore when inventory increases under the LIFO retail method, a new layer would be added.

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On January 1, 20X4, Plimsol Company acquired 100 percent of Shipping Corporation's voting shares, at underlying book value.
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Answer:

Explanation:

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The diagram is attached.

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4 0
2 years ago
In​ 2011, the fixed costs of a company were​ $500,000, and its variable costs equaled​ $150,000. In​ 2010, the company made an a
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Answer:

$650,000

Explanation:

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2 years ago
Suppose you’ve already received your free credit reports this year. Give 3 situations in which the credit bureaus would have to
dmitriy555 [2]

Answer:

The Fair Credit Reporting Act allows you to get a free credit report under certain circumstances:

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3 0
2 years ago
Hi, Sierra,
hichkok12 [17]

Answer:

Question requires that you find five sentence fragments, one dangling modifier, one passive-voice sentence, and one parallelism fault.

Sentence Fragment

A sentence fragment is so because it is either missing a subject, or a verb, and/ or a complete thought. It is therefore an incomplete sentence.

  • 5. Although no clear line separates fun from profit or a hobby from a business.
  • 12. If you spend eight or more hours a day trading on eBay.
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Dangling Modifier

Attempts to modify an unclear word in the sentence

  • 19. All profits are taxable.

It is unclear what profits the sentence alludes to.

Passive-voice sentence

In Passive voice, the subject of the text is the one that is being acted upon.

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Parallelism Fault

This occurs when the sentence is not grammatically parallel. In other words the sentence does not follow as it is not using the same structure.

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5 0
2 years ago
When bringing to market a new product like the MotorolaOne Zoom, the actual product launch takes place in the __________________
AnnZ [28]

Answer:

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