Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 14, 2024

Explain why last in first out (LIFO) has an edge over first in first out (FIFO) or any othermethod of pricing maternal issues.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Last In First Out LIFO has an edge over First In First Out FIFO or other methods of pricing inventory for several reasons 1 Matching Costs with Revenu... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

10th Edition

1119491630, 978-1119491637, 978-0470534793

More Books

Students also viewed these Accounting questions

Question

★★★★★

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★

CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...

Answered: 1 week ago

Question

★★★★★

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...

Answered: 1 week ago

Question

★★★★★

In a test on 2000 electric bulbs, it was found that the life of a particular make was normally distributed with an average life of 2040 hos & S.D of bohos Estimate the ne of likely to burn for it...

Answered: 1 week ago

Question

★★★★★

The consolidated tax liability for most affiliated groups is assigned among the parent and its subsidiaries-each entity is responsible for "its share" of the tax. The Regulations allow several...

Answered: 1 week ago

Question

★★★★★

Show that the Morse potential approaches the harmonic potential for small values of the vibrational amplitude.

Answered: 1 week ago

Question

★★★★★

=+c) If were primarily interested in Pedros effect on attendance, why is it important to have the other variables in the model?

Answered: 1 week ago

Question

★★★★★

Product A is made from components B, C, and D. item B is a subassembly that requires 2 units of C and I unit of E. Item D also is an intermediate item, made from F All other usage quantities are 2....

Answered: 1 week ago

Question

★★★★★

Five banks offer nominal rates of 9% on deposits, but A pays interest annually, B pays semiannually, C pays quarterly, D pays monthly, and E pays daily ssume 365 days in a year. 1. What effective...

Answered: 1 week ago

Question

★★★★★

A mixture containing 65.0 mole% acetone (Ac) and the balance acetic acid (AA) is separated in a continuous distillation column at 1 atm. A flowchart for the operation is as follows: The overhead...

Answered: 1 week ago

Question

★★★★★

To fund an expansion in its operations Company X has just issued 12-year zero coupon bonds with a total face value of 135 million, taking its total asset value to 395 million. a)Explain how the value...

Answered: 1 week ago

Question

★★★★★

Luke Corporation produces a variety of products, each within their own division. Last year, the managers at Luke developed and began marketing a new chewing gum, Bubbs, to sell in vending machines....

Answered: 1 week ago

Question

★★★★★

The demand curve for product X is given by: Qd X = 500 5PX and the supply curve is given by: QS X = 10PX (a) What is the function for inverse demand? What is the function for inverse supply? (b) What...

Answered: 1 week ago

Question

★★★★★

Scenario update As a proof of concept in the TSA Meats network build project the network architect that you demonstrate how the final network would operate with the aid of the network emulation tool...

Answered: 1 week ago

Question

★★★★★

Use the following distribution to estimate the percentage of light bulbs having a life less than 2500 hours. Hours of life' of light bulbs 0 1000 4000 5000 2000 3000 hours A. 20% B. 50% C. 5% D. 80%

Answered: 1 week ago

Question

★★★★★

In 1980, approximately 20% of adults aged 18-34 were considered minorities, reporting their ethnicity as other than nonHispanic white. By the end of 2013, that percentage had more than doubled. How...

Answered: 1 week ago

Question

★★★★★

Please show the steps on how you got the final answer and round final answer two decimal places QUESTION 8 EBIT stands for earnings before interest and taxes, and it is often called "operating...

Answered: 1 week ago

Question

★★★★★

ABC company leased new advanced computer equipment to STU Ltd on 1 January 2019.STULtd has to pay annual rental of $290,000 starting at 1 January 2019. It is a four years lease with ultimate rental...

Answered: 1 week ago

Question

★★★★★

=+20. Use the alternative computing formula for Sxx as shown in Exercise 18 to determine the sample standard deviation for the average porosity measurements presented in Exercise 19.

Answered: 1 week ago

Question

★★★★★

=+Calculate and interpret the values of the sample mean and sample standard deviation for this data.

Answered: 1 week ago

Question

★★★★★

=+ Determine the values of the two middle sample observations (and dont do it by successive guessing!). Hint: See Exercise 18 part b.

Answered: 1 week ago

Previous Question Next Question