Which of the following traits would be important to a successful

Companies using LIFO are required to disclose the amount at which inventory would have been reported had it used FIFO. Similarly

Irina-Kira [14]

Answer:

True

Explanation:

LIFO is in fact, only allowed to be used in the United States, because under the new IFRS (International Financial Reporting Standards), the used of LIFO has been prohibited.

The reason for this, is that LIFO inflates the value of inventory, because the (usually) lower cost of old inventory is what is reported.

This is why companies using LIFO are obliged to report the hypothetical value of the inventories had they used FIFO.

8 0

2 years ago

A river barge company can offer cheaper, although slower, per-pound transportation of products to companies when compared with t

VladimirAG [237]

Answer:

the cost leadership strategy.

Explanation:

A river barge company can offer cheaper, although slower, per-pound transportation of products to companies when compared with transportation by air, truck, or rail. The river barge company should first target customers whose companies use the cost leadership strategy.

A cost leadership strategy is a business strategy which is aimed at using the lowest cost of production and operation in a business.

Hence, river barge company cheaper, although slower, per-pound transportation as against the use of air, truck, or rail which would be more expensive.

3 0

2 years ago

What is the main disadvantage of moving to e-moneyLOADING... or moving to a cashless society? A. Funds are debited too quickly

Nady [450]

The correct answer is D) There are problems with security and privacy.

The main disadvantage of moving to e-money LOADING... or moving to a cashless society is "There are problems with security and privacy."

Technology has brought many advantages to the way people do business, facilitating transactions, bank payments, deposits, and many more functions. However, it also has risks and disadvantages. The most important risk that has already affected thousands of people is the security and privacy of data.

There have been cases such as the clients of Target supermarket that suffered from stolen information and hackers used their credit cards to make purchases. Private concerns of data uploaded on social media sites such as Faceb*ok have been used to other purposes and the President of this company had to testify members of the US Congress.

7 0

2 years ago

The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit Raw Materials I

Rudik [331]

Answer:

$115,000

Explanation:

Data provided as per the question is below:-

Beginning balance = $81,000

Direct material issued = $27,000

Direct labor incurred = $7,000

The computation balance Process Inventory is shown below:-

Balance in the Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred

= $81,000 + $27,000 + $7,000

= $115,000

4 0

2 years ago

Kivi Service Stations is considering expanding its operations to include the greater Dubuque area. Rather than build new service

gayaneshka [121]

Answer:

A. $1,085,000

B. $316,000

Explanation:

A. Computation of an estimated fair value for any goodwill associated with Kivi purchasing Joe’s Garage

Actual average net income per year $220,000

Sales multiplier 9.25 times

Estimated fair market value of Joe's Garage$2,035,000

($220,000*9.45 Times)

Fair market value of identifiable assets($950,000)

Estimated goodwill of Joe's Garage$1,085,000

($2,035,000-$950,000)

b. Computation for an estimated fair value for any goodwill associated with Kivi purchasing Gas N’ Go.

Actual average net income per year$275,000

Earnings for Gas N' Go($196,000)

(20%×$980,000)

Estimated excess earnings of Gas N' Go$79,000

($275,000-$196,000)

Management expect excess earning of four years ×4

Estimated goodwill of Gas N' Go $316,000

($79,000×4 years)

4 0

2 years ago