The ability to manage ____ may be the most important skill a strategic leader must have.

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

1 year ago

Silver Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw mater

kakasveta [241]

Answer:

$171,619.20

Explanation:

The computation of the budgeted accounts payable balance at the end of November is shown below:

= Budgeted cost of raw materials purchases in November × following month percentage

= $286,032 × 60%

= $171,619.20

As 40% is paid in the month of purchase whereas 60% is paid to the following month. So, we recognized 60%, not 40%

4 0

2 years ago

ABC Manufacturing uses a Kanban system for a component. The daily demand is 800 units. Each container has a combined waiting and

Rashid [163]

Answer:

6 (rounded up to the nearest whole number)

Explanation:

Number of kaban= Daily demand*lead time in days * ( 1 + safety stock)/quantity in a container

= 800*0.34* (1+9/100)/50

272 * 1.09/50

272* 0.0218

=5.9296

=6 ( nearest whole number)

4 0

1 year ago

Pacific Ink had a beginning work-in-process inventory of $861,960 on October 1. Of this amount, $351,920 was the cost of direct

andrew11 [14]

Answer:

Cost of goods transferred out (FIFO) = $ 6122589.82

Cost of Ending Inventory = $ 939,470.18

Explanation:

Units % of Completion EUP

D.M C.C D.M C.C

Units completed 114,000 100 100 114,000 114,000

Ending Inventory 36,000 80 40 28,800 14400

Total Equivalent Units Of Production 142,800 128,400

Direct Materials= $ $2,721,900/142,800 = $ 19.0761

Conversion Costs = $3,478,200/ 128,400= $ 27.089

Cost of Ending Inventory = $549,391.68 + $390,078.5= $ 939,470.18

Materials = $ 19.0761* 28,800 = $549,391.68

Conversion Costs =$ 27.089 *14400 = $390,078.5

Beginning work-in-process inventory Costs $861,960

Costs incurred During the period= $2,721,900 + $3,478,200= $ 6200100

Cost of goods transferred out = Beg Inventory + Units Started- Ending Inv

Cost of goods transferred out =$861,960 + $ 6200100-$ 939,470.18

Cost of goods transferred out = $ 6122589.82

8 0

1 year ago

APEX : Which of the following would appear in the Debits column of a bank statement for a checking account?

Deffense [45]

Answer: an online bill payment

Explanation:

I’m doing apex and it shows that the correct answer is an online bill payment

3 0

2 years ago

Read 2 more answers