What are the conditions that favour the adoption of the Last-in, First-out system of materials pricing ?
Question:
What are the conditions that favour the adoption of the Last-in, First-out system of materials pricing ? Explain its working and indicate its advantages and limitations.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
Conditions Favoring the Adoption of the LastIn FirstOut LIFO System of Materials Pricing Inflationary Conditions LIFO is most suitable when there is inflation or a consistent increase in the cost of m...View the full answer
Answered By
Ma Kristhia Mae Fuerte
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The following is record of Receipts & Issues of Certain materials in a factory during a week May 2008 (10M) Opening Balance 100 tons @ 10 per ton. 1. Issued 60 2. Received 120 tons @ 10.10 per...
-
What are the conditions that make in-house research preferable? What are the conditions that make outside research preferable?
-
What are the conditions that make in-house research preferable? What are the conditions that make outside research preferable? Would the company in the opening vignette have been better off to do the...
-
1. Because triangle A is congruent with triangle B, and triangle A is isosceles, it follows that triangle B is isosceles. 2. The plaque on the Leaning Tower of Pisa says that Galileo performed...
-
Richardson Industries manufactures industrial tools after creating a mold for each newly designed tool. Richardson personally inspects every unit during the trial run of a new mold and 10 percent of...
-
A solenoid of length 40.0 cm is made of 10,000 circular coils. It carries a steady current of 12.0 A. Near its center is placed a small, flat, circular metallic coil of 200 circular loops, each with...
-
The two metal rods in Figure P27.22 are perpendicular to each other. Describe the magnetic force each rod exerts on the other, and then describe the torque caused by each force. Data from Figure...
-
Gil makes out a $900 negotiable promissory note payable to Ben. By special indorsement, Ben transfers the note for value to Jess. By blank indorsement, Jess transfers the note for value to Pam. By...
-
after determing a reported vulnerability was a credible claim the product security incident response team worked with develpment teams to create and test a patch. the patch is schedule t obe released...
-
Prepare a stores ledger account from the following transactions under the LIFO method. 1 10 20 4 21 March 16 April 12 May 10 25 Jan. Feb. Received 1,000 units @ Received 260 units @ Issued 700 units...
-
Show the stores ledger entries as they would appear when using (a) The weighted average method (b) The LIFO method of pricing issues, in connection with the following transactions: In a period of...
-
A production line that produces protein bars operates 7 days per week, with three 8-hour shifts per day. The line was designed to produce bars at a rate of 800 per hour. Last week the line produced...
-
What could happen to strike-slip faults at depth?
-
Can you do a rough interpretation of Figure 1.6 and identify the stratigraphic level of the salt, pencil in salt structures and interpret the folds? -TW 56 Vers 246 800 6th One DON Dom Dog Dm 30 Sto...
-
From the following trial balance of G. Foot after his first years trading, you are required to draw up an income statement for the year ending 30 June 2012. A statement of financial position is not...
-
What type of setting does Death Valley represent?
-
Why do we not see diapirs in the upper part of a gravitydriven dcollement setting such as shown in Figure 20.24? Sedimentary loading Extension Dcollement Rafting Salt rollers Diapirism med en...
-
The following table lists the stock prices for Microsoft from 1989 to 1998. The company did not pay any dividends during the period Year Price (dollars) 1989 .......... 1.20 1990 .......... 2.09 1991...
-
Wilsons Auto Repair ended 2011 with Accounts Receivable of $85,000 and a credit balance in Allowance for Uncollectible Accounts balance of $11,000. During 2012, Wilsons Auto Repair had the following...
-
Define cost object and give three examples.
-
Define cost object and give three examples.
-
Define cost object and give three examples.
-
Let S ((x1,y1),..., (xm, Ym)) = (Rdx{1}). Assume that there exists w Rd such that for every i = [m] we have y (w,x) 1, and let w* be a vector that has the minimal norm among all vectors that satisfy...
-
Consider the following data. ti 1.0 1.5 2.0 2.5 3.0 Yi 1.1 1.2 1.3 1.3 1.4 (a) Set up an overdetermined system of the form (3.1.3) for a straight line passing through the data points. Use the...
-
How do power differentials and social hierarchies manifest within team dynamics, and what implications do they have on decision-making processes?
Study smarter with the SolutionInn App