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

Author Question: The inventory costing method that reports the most current prices in ending inventory is a. FIFO ... (Read 149 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jul 5, 2018
The inventory costing method that reports the most current prices in ending inventory is
 a. FIFO
  b. specific identification
  c. LIFO
  d. average cost

Question 2

On April 1, Spring Floral, Inc has a balance of 300 in Supplies. During April, the company buys 900 more of the supplies. On April 30, the company counts the supplies and finds 200 of supplies remaining.
 
  What will the company report on its month ended April 30 income statement?
  A) Supplies expense of 1,000
  B) Supplies of 1,000
  C) Supplies of 200
  D) Supplies expense of 200


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kjo;oj

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

A


kshipps

  • Member
  • Posts: 571
Reply 2 on: Jul 5, 2018
Excellent

Jossy

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Caleb Goodwin, Inventory of Slaves and Livestock. Caleb Goodwin, Inventory of Slaves and Livestock.
Measuring Systolic Blood Pressure Using the Palpatory Method Measuring Systolic Blood Pressure Using the Palpatory Method
Performing Venipuncture Using the Vacutainer Method Performing Venipuncture Using the Vacutainer Method
When the exhaust is lean, the PCM applies a positive current into the pump cell. When the exhaust is lean, the PCM applies a positive current into the pump cell.
The Scientific Method and Atmospheric Science The Scientific Method and Atmospheric Science
Prices in Japan before and after Opening to Trade Prices in Japan before and after Opening to Trade
Video: Effect of the environment on coat color in the Himalayan rabbit Animation

For a complete list of videos, visit our video library