This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The inventory costing method that reports the earliest costs in ending inventory is a. FIFO b. ... (Read 181 times)

Lisaclaire

  • Hero Member
  • *****
  • Posts: 569
on: Jul 5, 2018
The inventory costing method that reports the earliest costs in ending inventory is
 a. FIFO
  b. LIFO
  c. weighted average
  d. specific identification

Question 2

For each of the following transactions, determine whether there is an increase, decrease, or no change in net income.
 
  a. Purchased inventory for 8,700.
  b. Earned 15,000 in sales for the month.
  c. The cost of inventory sold was 6,000.
  d. Dividends paid to shareholders were 1,000.
  e. Paid employees 1,300.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mcarey591

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

a. No change,
b. Increase,
c. Decrease,
d. No change,
e. Decrease


Lisaclaire

  • Member
  • Posts: 569
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

CycleBeads help women use the Standard Days Method. CycleBeads help women use the Standard Days Method.
Increasing Costs of Natural Disasters Increasing Costs of Natural Disasters
The site of Dmanisi has produced some of the earliest H. erectus outside of Africa. The site of Dmanisi has produced some of the earliest H. erectus outside of Africa.
Caleb Goodwin, Inventory of Slaves and Livestock. Caleb Goodwin, Inventory of Slaves and Livestock.
Performing Venipuncture Using the Vacutainer Method Performing Venipuncture Using the Vacutainer Method
Functional brain imaging is the major method of cognitive neuroscience. This image—taken from the ... Functional brain imaging is the major method of cognitive neuroscience. This image—taken from the ...
Video: Autonomic Nervous System Animation

For a complete list of videos, visit our video library