Discuss the reasons for using lifo in an inflationary economy.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (15 reviews)
In an inflationary economy lifo provides a better matching ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Cost for inventory purposes should be determined by the inventory cost flow method best reflecting periodic income. Required: a. Describe the inventory cost flow assumptions of (1) average-cost, (2)...
-
Prior to instituting an activity-based costing system, Harris and Whelan, the attorneys in E9-5 and E9-6, utilized a simplified costing system with one direct cost category, professional labor, and...
-
Discuss the reasons for inviting the functional managers to a project launch meeting rather than their subordinates who may actually be doing the work.
-
Simplify the following expressions according to the commutative law: a. b. A B + A C + B A c. (L M N)(A B)(C D E)(M N L) d. F (K + R) + S V + W + V S + W + (R + K) F A.B + B.A + C.D.E + C.DE + E.T.D
-
Kishwaukee Catering Company provides catering services for banquets, events, and other catering functions within a university community. The work is fairly steady throughout the year but peaks...
-
The town aquatic center has an indoor pool that has lanes for lap swimming and an open area for recreational swimming and water exercises. When local schools are in session from mid-August to late...
-
AAprint Ltd provides high-volume offset colour and black and white printing for newspapers. It applies factory overhead to jobs on the basis of machine hours. The budgeted fixed overhead consists of...
-
St. George Inc. reported $711,800 net income before tax on this years financial statement prepared in accordance with GAAP. The corporations records reveal the following information: Four years ago,...
-
1. Select any organization. Explain the management functions of planning, organizing, leading, and controlling at that organization. Answer this question in about 300-400 . Question 2: Select a job...
-
The Kreeger Grocery Store chain has bought out a competing grocery store chain. However, it now has too many stores in close proximity to each other in certain cities. In Roanoke the chain has 10...
-
Describe the fundamental cost flow assumptions of the average cost, fifo, and lifo inventory costing methods.
-
Proponents of lifo and fifo procedures ascribe certain merits to each. Identify the inventory procedure, lifo or fifo, to which the following features are attributed: (a) Matches actual physical flow...
-
Norita Company makes and sells a toy plane. Norita incurred the following costs in its most recent fiscal year: Cost Items Reported on Income Statement Shipping and handling costs ($0.75 per unit)...
-
Do you know about the chart of accounts in your organization as it pertains to information you receive?
-
Have you ever been informed of the information flow in your unit or division?
-
Given the low level of juror yield rates, what else do you think should be done to improve the level of citizen participation?
-
What is the importance of secondary data analysis?
-
What factors influence prosecutors' charging decisions?
-
Witter House is a calendar-year firm with 300 million common shares outstanding throughout 2024 and 2025. As part of its executive compensation plan, at January 1, 2023, the company had issued 30...
-
If the annual fixed costs are 54,000 dinars, the occupation expense represents 20%, the contribution margin is 25%, and the unit selling price is 40 dinars. Required: Calculate the closing point of...
-
What is the payback method? What are its main strengths and weaknesses?
-
Describe the accrual accounting rate-of-return method. What are its main strengths and weaknesses?
-
Describe the accrual accounting rate-of-return method. What are its main strengths and weaknesses?
-
What is the role of education in promoting social mobility and reducing inequality, and how can educational systems be reformed to better serve diverse populations while preparing individuals for the...
-
A European call option and put option on a non-dividend paying stock both have a strike price of $51 and an expiration date in 6 months. The put sells for $2.50 and the call sells for $2. The...
-
Larkspur Company sells discounted shoes to the fashion-oriented consumer. The following schedule relates to the company's inventory for the month of March: Cost Sales March 1 Beginning inventory...
Study smarter with the SolutionInn App