Of the three cost-flow assumptions, when inventory costs have been falling and inventory amounts increasing, LIFO results in balance sheet figures that are _____, cost of goods sold will _____, and _____ reported net income
a. closest to current cost, be out of date, highest
b. out of date, closest to current cost, highest
c. closest to current cost, be out of date, lowest
d. out of date, closest to current cost, lowest
e. closest to current cost, closest to current cost, highest
B
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Some advertisers acknowledge that, in Brazil, traditional outdoor advertising may not be the best communication channel due to noise level
Indicate whether the statement is true or false
FOB ________ means ownership of goods transfers to the buyer when the goods arrive at the buyer's place of business. The seller is responsible for paying shipping charges and bears the risk of damage or loss in transit.
Fill in the blank(s) with the appropriate word(s).
Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover for Year 2. Year 2 Year 1 Cash$39,300? $34,050? Short-term investments 108,000? 69,000? Accounts receivable, net 94,500? 88,500? Merchandise inventory 130,000? 134,000? Prepaid expenses 13,900? 11,500? Plant assets 397,000? 347,000? Accounts payable 104,400? 116,800? Net sales 720,000? 685,000? Cost of goods sold 399,000? 384,000?
A. 2.98. B. 3.61. C. 3.02. D. 5.54. E. 3.07.
Use the information in Table 5.2. Using the traditional method, what is the optimal product mix?
A) 37 A, 60 B, 70 C, 80 D B) 50 A, 51 B, 70 C, 80 D C) 50 A, 60 B, 62 C, 80 D D) 50 A, 60 B, 70 C, 60 D