Why might a company choose to use the LIFO cost flow assumption? The FIFO assumption? The Moving
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (15 reviews)
A company might choose the LIFO assumption in order to defer taxes by ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Why might a company choose to use a creative boutique rather than a larger, full-service agency? Find an example of a company that uses a creative boutique and discuss why the decision to use a...
-
Why might a company choose to use a limited partnership?
-
Why might a company choose to finance permanent working capital with short-term debt?
-
Which of the following do ergonomics most directly address? Physical wellbeing Mental wellbeing Emotional wellbeing Social wellbeing
-
Refer to Sections 203 and 206 of SARBOX. How would these sections of the law have impacted the Waste Management audit? Do you believe that these sections are needed? Why or why not?
-
Use the following table that an analyst prepared to answer the following questions. Selling Price = $ 2 9 . 0 0 Fixed Cost Variable Cost Sales Volume 2 , 2 0 0 3 , 2 0 0 4 , 2 0 0 5 , 2 0 0 6 , 2 0 0...
-
In interface design, what role do patterns play (or what role should they play)? Provide an example for patterns when you use an ATM to withdraw cash.
-
Demand for rug- cleaning machines at Clyde's U- Rent- It is shown in the following table. Machines are rented by the day only. Profit on the rug cleaners is $ 10 per day. Clyde has four rug-cleaning...
-
Please create social messages for Twitter, Facebook, and Linkedln to promote the following article. Include attributions and hashtags specific to each platform. Make them fun so they stand out and...
-
The following is a dump of an SCTP general header in hexadecimal format. 04320017 00000001 00000000 a. What is the source port number? b. What is the destination port number? c. What is the value of...
-
For each inventory costing method--LIFO, FIFO, and Moving Average--which costs are presumed to be in ending inventory ? Which costs are presumed to be in cost of goods sold?
-
What is the LIFO reserve? What can be learned from it?
-
Assume that your client possesses the following characteristics associated with the fraud triangle: Incentives: Need to obtain additional debt or equity financing to stay competitive, including...
-
When buying a car, it's always best to finance car through the dealership since they have access to loans with the lowest interest rates. Group of answer choices True False
-
If there is coverage a of 400,000 and a replacement value of 100,000 what does this mean for a homeowners insurance policy, the value of the house is now up to 800,000
-
Jacqui Capital has outstanding corporate bonds paying a 10% coupon semi annually, with a current yield to maturity of 8%. If Jacqui's tax rate is 35%, what is the company's effective cost of debt?
-
If the yield to maturity of the bond increases by 8 basis points, what is the expected change in your investment in percentage of your original investment of 999687.5?
-
DigiFlix is a streaming service for home movies. It plans to issue debt to finance an upgrade to its IT infrastructure. The project will cost $30 million and debt issuance costs are 3% of the amount...
-
Find the total current for the circuit in Figure 1075. V 2V f = 100 kHz FIGURE 10-75 R 10 R 12 H C 100 pF C 47 pF
-
The following items were displayed in the statement of affairs for Lubbock Company: Fully secured liabilities ......... $90,000 Partially secured liabilities ....... 12,000 Unsecured liabilities...
-
The AICPA Special Committee on Financial Reporting proposed the following constraints related to financial reporting. 1. Business reporting should exclude information outside of managements expertise...
-
William Murray achieved one of his life-long dreams by opening his own business, The Caddie Shack Driving Range, on May 1, 2012. He invested $20,000 of his own savings in the business. He paid $6,000...
-
Your aunt recently received the annual report for a company in which she has invested. The report notes that the statements have been prepared in accordance with generally accepted accounting...
-
How do advanced scenario planning methodologies, such as probabilistic forecasting, sensitivity analysis, and scenario stress-testing, inform the development of robust, adaptive visions that are...
-
How can leaders sustain momentum and relevance around visionary visions amidst evolving external environments, internal dynamics, and competing priorities, fostering adaptability, resilience, and...
-
What cognitive processes underlie the formulation of visionary narratives, and how can leaders leverage storytelling techniques to evoke emotional resonance, foster buy-in, and drive transformative...
Study smarter with the SolutionInn App