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What are the three different inventory cost-flow assumptions commonly used in commerce today and allowed by generally accepted accounting principles? How does your company, or a company you are familiar with, determine what cost flow assumption it should use? In a period of increasing prices, why would the company tax accountant prefer the last in, first out method while the CEO would prefer first in, first out? Why is this important? · A survey of major U.S. companies revealed that 77% of those companies used either LIFO or FIFO cost flow methods, while 19% used average cost, and only 4% used other methods. Provide brief, yet concise responses to the following questions. a. Why are LIFO and FIFO so popular? b. Since computers and inventory management software are readily available, why are more companies not using specific identification?
in its first month of operations cerretti company made three purchases of merchandise in the following sequence 1 300
plants galre operates a commercial plant nursery where it propagates plants for garden centers throughout the region.
you are a consultant for energy company. it is a utility company. it is thinking about expanding its energy production
moteki company accumulates the following adjustment data at december 31.indicate the type of adjustment prepaid
a company issues 15000000 7.8 20-year bonds to yield 8 on january 1 2012. interest is paid on june 30 and december 31.
Calculate the ROI for Hercules. Use operating income and net book value of assets as the measures for income and investment respectively.
Calculate the profitability ratios that can be computed from the above information.
1. tony hawks adventure tha issued callable bonds on january 1 2012. thas accountant has projected the following
sailing unlimited makes small sailboats. the average monthly demand is 50 boats. the plant operates 300 hours a month.
What was the total amount paid on accounts payable during 20X2? Assume that all supplies were purchased on account
The classified Balance Sheet has numerous errors show in this Balance Sheet by describing in words the deficiencies.
average daily census and occupancy rate and average length of stay example original examplescenario that demonstrates
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