Which of the following accounts may use the first-in-first-out (FIFO) approach for valuation purposes? Interest receivable and interest revenue Inventory and cost of goods sold Notes payable and interest expense Accounts receivable and bad debts expense Property and equipment and depreciation expense Akros Inc. pays monthly salary on the first working day of the next month. As on November 30 , a Friday, the accrued salary amounts to $1,000. How will Akros record this event? This event cannot be recorded Increase to liabilities Decrease to expenses Decrease to assets Decrease to liabilities The selling price of a product is $240 per unit, the fixed cost per unit is $130, and the variable cost per unit is $150 per unit. Calculate the contribution margin per unit. $90 $20 $110 $490 $208 Organizations use what-if analysis to calculate how much one additional unit of income will be used for an investment determine if means of two populations are different when their variances are known and the sample size is large predict the outcome of a decision if the given situation is not different from the key predictions determine how different values of an independent variable will impact a dependent variable undec a given set of assumptions distinguish period costs and inventoriable costs