During a period of declining inventory costs, which of the following inventory costing methods should be used by a company that intends to minimize its income tax expenses?

A) first-in, first-out
B) last-in, first-out
C) weighted-average
D) specific identification


A) first-in, first-out

Business

You might also like to view...

Which assessment tool listed below is used to determine an organization’s success in accomplishing its mission?

A. outcomes B. financial ratios C. peer evaluation D. cost–benefit analysis

Business

In the feature, Personal Reflections: Internal Locus of Control and the American Dream, the author describes how he witnessed over the years

a. young entrepreneurs with good ideas get crushed by corporations with huge budgets b. corporations only promoting to CEO positions family members of rich stock holders c. corporations promoting people from middle class families to CEO roles, and entrepreneurs triumphing over large corporations d. both “a” and “b”

Business

Identify and describe three categories of meetings that occur in the workplace. Which of these types of meetings would most likely occur every Monday morning, and why?

What will be an ideal response?

Business

If a buyer wrongfully refuses to accept the goods, the seller can bring an action for damages equal to the difference between the contract and market prices at the time and place of tender.

Answer the following statement true (T) or false (F)

Business