What assumption does the computer make to determine the value of an inventory item based on the
Question:
What assumption does the computer make to determine the value of an inventory item based on the first-in, first-out method?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (12 reviews)
With the FIFO method ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Integrated Accounting
ISBN: 978-1285462721
8th edition
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
Question Posted:
Students also viewed these Business questions
-
What assumption does the computer make when generating the inventory valuation (LIFO) report?
-
What assumption does the computer make when generating the inventory valuation (FIFO) report?
-
What assumption does the absorption costing approach make about how consumers react to prices?
-
Table illustrates the quantities, marginal costs, average variable costs, and average costs of a competitive firm. Refer to table 4. How much is the unit profit at price =$30? [the problem is based...
-
Find the energy required to remove one neutron from 23 11 Na:
-
Charged pions with momentum 50 GeV/c are deflected through a collimator slit 3mm wide by a bending magnet 2m long that produces a uniform field of 1.5 T. Calculate how far from the magnet the slit...
-
Critically evaluate the basis of the following assertion: I am sceptical that it [the impairment test] will work reliably in practice, given the complexity and subjectivity that lie within the...
-
Of the ineffective resolution examples, which was the worst, in your opinion? Why?
-
Kasper's puppy ran out of the house. It ran 18 meters, turned and ran 23 meters, and then turned 140 to face the house. How far away from the house is Kaspers puppy? Round to the nearest bundredth
-
There is a lottery with n coupons and n people take part in it. Each person picks exactly one coupon. Coupons are numbered consecutively from 1 to n, n being the maximum ticket number. The winner of...
-
What assumption does the computer make to determine the value of an inventory item based on the last-in, first-out method?
-
What account amount does the computer automatically calculate and display when a cash payment transaction is entered?
-
The form on page shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 workers in Ranger Company. These amounts represent the cumulative earnings for...
-
1. Define a population of people or things that are of interest to you. 2. Define two quantitative variables that could be observed or measured from a sample of your population. 3. Describe the...
-
1.Bill recently died, and you are in the process of valuing assets for inclusion in his gross estate. Bill was a day trader by occupation and owned XYZ Stock, listed security, among his many other...
-
For questions #49-52, use the following sample scores: 6, 1, 7, 4, 8, 1, 13. The range is:
-
The standard cost sheet for Chambers Company, which manufactures one product, follows: Direct materials, 40 yards at $2.00 per yard$80Direct labor, 5 hours at $20 per hour100Factory overhead applied...
-
How does linguistic pragmatics inform the interpretation of implicit meaning and subtleties in business correspondence, and how can this knowledge be applied to foster effective communication...
-
During 2009, Gabriellas Fashion had beginning inventory of $960,000, ending inventory of $1,120,000, and cost of goods sold of $4,400,000. Compute the inventory turnover and days inventory on hand.
-
Convert the numeral to a HinduArabic numeral. A94 12
-
Would you expect to find any wholesalers selling the various types of business products? Are retail stores required (or something like retail stores)?
-
What kinds of business products are the following: ( a ) lubricating oil, ( b ) electric motors, and ( c ) a firm that provides landscaping and grass mowing for an apartment complex? Explain your...
-
How do raw materials differ from other business products? Do the differences have any impact on their marketing mixes? If so, what specifically?
-
Transaction [4 points] On March 1, fixtures and equipment were purchased for $4,500 with a downpayment of $1,000 and a $3,500 note, payable in one year. Interest of 5% per year was due when the note...
-
Burr Industries has the following events transpire in June of 2022: Event Details Buy Inventory: Buy 6,000 units of inventory for $6/unit on credit. Sell Inventory: Sell 4,765 units of inventory for...
-
to ensure receiables are not overstated on the statement of financial position, they ate reported a. at gross amount b. less interest revenue, if any c. plus bank charges expense, if any d. at their...
Study smarter with the SolutionInn App