Why would a company prefer valuing inventory using LIFO? FIFO can result in an inventory profit. What is an inventory profit and why is it considered a negative thing? A company paid operating expenses. How does this affect the company's assets? Do they increase, decrease,...
Explain why it is stated that LIFO usually produces a lower gross profit than FIFO. Explain the difference between FOB Destination and FOB Shipping Point. What is Gross Profit? How should you calculate the Gross Profit Percentage? Why could a company with very ...
Explain the difference between FIFO, LIFO, and weighted average methods. How do they relate to inflation and deflation? Managerial accounting involves planning, organizing, and controlling. Explain these activities and then explain why these phases ...
Explain how the choice of FIFO versus LIFO can affect a firms balance sheet and income statement. Explain how the managers choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees. ...
athere are four different inventory cost flow methods to resort to:specific identification ,FIFO,LIFO,weighted-average 有四个不同存量成本流动法对手段对:具体证明, FIFO, LIFO,衡量平均[translate] amary不想起床 玛丽不想起床[translate] aSelf-motivation is important in every aspect of a person's life...
Explain how the use of standardized costing and inventory costing methods (such as FIFO or LIFO) would impact the financial reporting and results for the company you selected. Discuss why computerized accounting is important to any company that is involved in e...
Explain the FIFO and LIFO inventory cost flow methods. How do you compute each? Explain how to show the cost of goods sold on a profit and loss statement. How inventory purchases work their way through financial statements? What are the different kinds of Inventory Planning Methods? Explain tw...