LIFO liquidation is often discretionary. What motives might management have to liquidate LIFO inventory?
Question:
LIFO liquidation is often discretionary. What motives might management have to liquidate LIFO inventory?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (16 reviews)
In periods of rising prices LIFO liquidation resul...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
Question Posted:
Students also viewed these Business questions
-
What motives might encourage managers to over diversify their firm?
-
What does the term LIFO liquidation mean? How can it lead to poor buying habits?
-
What motives do people have for hacking? Why has hacking become so popular in recent years? Do you regard it as a crime? Explain your position.
-
What is a random variable? What is a discrete random variable? What is a continuous random variable? Give some examples of discrete random variables.
-
If I raise the pressure in an isothermal process does h go up or down for a liquid or solid? What do you need to know if it is a gas phase?
-
What is an interface structure diagram (ISD), and why is it used?
-
How would you describe the culture of your school? How does your schools culture impact your behavior?
-
A ductile hot-rolled steel bar has a minimum yield strength in tension and compression of 50 kpsi. Using the distortion-energy and maximum-shear-stress theories determine the factors of safety for...
-
LOLULIS What are the major differences between managerial accounting and financial accounting? Describe at least four differences. From the given list of various companies, indicate whether the...
-
Refer to Problem 1.13. The pay will be $8 per hour for employees. Charles Lackey can also improve the yield by purchasing a new blender. The new blender will mean an increase in his investment. This...
-
Shields Company has purchased inventories incurring the following costs: (a) The invoice amount of $500. (b) Shipping charges of $30. (c) Interest of $ 10 on the $500 borrowed to finance the...
-
LIFO liquidation may be involuntary-that is beyond the control of management. Suggest two situations that might lead to involuntary UFO liquidation.
-
Differentiate between a closely held corporation and a publicly owned corporation. AppendixLO1
-
Find the expected value of buying the extended warranty. The expected value of buying the extended warranty is . A new flat - screen TV comes with a 1 - year warranty wh ich completely covers any...
-
An Olympic runner is coming to visit your school. You have been told that a world class race has two stages. In the first stage, the runner accelerates at a constant rate until he reaches maximum...
-
Question 3(15 marks) An investor holds 100,000 units of a bond whose features per bond are summarized in the following table. She wishes to be hedged against a rise in interest rates. Maturity Coupon...
-
12. In a professional cycling race, competitors (the "peloton") begin the race by riding 45.0 km north, then the road turns west by 37 for the next 50.0 km, before turning due west for the final 35.0...
-
Whateva Ltd uses a flexible budget and standard costs to aid planning and control of its machining manufacturing operations. The costing system for manufacturing has two direct cost categories...
-
MinnOil performs oil changes and other minor maintenance services on cars and trucks. The company advertises that all services are performed within 15 minutes each. On a recent Saturday, 160 cars...
-
You are thinking of investing in one of two companies. In one annual report, the auditors opinion states that the financial statements were prepared in accordance with generally accepted accounting...
-
Presented below are selected financial statement items for Rowe Corporation for December 31, 2012. Instructions(a) Determine which items should be included in a statement of cash flows, and then...
-
Austin Corporation was formed during 2011 by Joanna Kay. Joanna is the president and sole stockholder. At December 31, 2012, Joanna prepared an income statement for Austin Corporation. Joanna is not...
-
The 2009 financial statements of Tootsie Roll Industries, Inc. are provided in Appendix A. Instructions Refer to Tootsie Rolls financial statements to answer the following questions. (a) What were...
-
Transcribed image text
-
QUESTION 20 Assume a company reported the following results Sales Net operating income Average operating assets Margin Turnover Return on investment (ROI) 5300,000 2 $240.000 40% ? 2 What is the net...
-
2. Using the graph provided below, determine the fixed cost, the total variable cost, the variable cost per unit, and the TOTAL COST to produce 60 units. Fixed Cost ______________ Variable Cost...
Study smarter with the SolutionInn App