Why is it often necessary to use a cost formula for valuing inventory and determining cost of
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
Cost formulas are needed because for most goods that are sold it would ...View the full answer
Answered By
Gauri Hendre
I worked as EI educator for Eduphy India YT channel. I gave online tutorials to the students who were living in the villages and wanted to study much more and were preparing for NEET, TET. I gave tutions for topics in Biotechnology. I am currently working as a tutor on course hero for the biochemistry, microbiology, biology, cell biology, genetics subjects. I worked as a project intern in BAIF where did analysis on diseases mainly genetic disorders in the bovine. I worked as a trainee in serum institute of India and Vasantdada sugar institute. I am working as a writer on Quora partner program from 2019. I writing on the topics on social health issues including current COVID-19 pandemic, different concepts in science discipline. I learned foreign languages such as german and french upto A1 level. I attended different conferences in the science discipline and did trainings in cognitive skills and personality development skills from Lila Poonawalla foundation. I have been the member of Lila poonawalla foundation since 2017. Even I acquired the skills like Excel spreadsheet, MS Office, MS Powerpoint and Data entry.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Why is it often necessary to prepare separate financial statements for each legal entity in a consolidated group even though consolidated statements provide a better economic picture of the combined...
-
Why is it often necessary to recalculate the depletion rate for natural resources?
-
Which cost formula for valuing inventory is best? Explain.
-
1.3 WANEFMAC7 1.3.007. Find the equation of the given linear function. \[ f(x)= \] WANEFMAC7 1.3.015. Find the slope of the given line, if it is defined. (If an answer is undefined, enter UNDEFINED.)...
-
On average, growth rates for high-income economies are much lower than growth rates for low-income economies. How does the Solow model explain this?
-
Nettwerk 1. Which marketing processes from music's pre-digital era are now obsolete and which continue to be relevant? 2. How viable is the "long tail" strategy for musicians/artists? 3. What is the...
-
Financial statements of iPud Ltd are presented below. Additional information 1. Payables includes $5620 (2025) and $5730 (2023) trade accounts payable; the remainder is accrued expenses. Market...
-
1. Compute the net investment required to establish the collection subsidiary. 2. Compute the annual net cash flows over the 10-year life of the project. 3. Compute the net present value of this...
-
Chocolate Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Chocolate Muffins for this year...
-
Using the information given below, prepare an income statement and an owner's equity statement for the year 2019 for Rapid Car Services from the adjusted trial balance. Owner Stella Grafton did not...
-
Why isn't it possible to determine the amount of inventory that was stolen during a period when a periodic inventory control system is used?
-
Why is the choice of the inventory cost formula important for tax purposes? Explain.
-
For the following exercises, draw the angle provided in standard position on the Cartesian plane. State the domain of the sine and cosine functions.
-
A disadvantage of having a large amount of debt is that investors may show concerns about the amount of debt to equity ratio a company may have. An investor may no longer want to invest in the...
-
A fair value exposure to foreign exchange risk does not exist for Multiple choice question. a forecasted foreign currency transaction. a recognized foreign currency account receivable. an...
-
During the last three years, has your firm changed accounting practices and/or policies in regards to the recognition of sales, assets, leases and liabilities? Describe these changes in plain English...
-
You want to check the accuracy of the transactions used in Xero's short-term cash flow projection. Which new feature in the projection tool helps you do this? Search bar The Xero dashboard Table view...
-
The company had purchased land in an upcoming area for Rs. 1 crore and the its current value is Rs. 1.5 crore. The company still records it at Rs. 1 crore in the books and does not book the profit of...
-
Automobile manufacturing is an industry subject to significant economies of scale. Suppose there are four domestic auto manufacturers, but the demand for domestic autos is no more than 2.5 times the...
-
The Ferris wheel in the figure has a radius of 68 feet. The clearance between the wheel and the ground is 14 feet. The rectangular coordinate system shown has its origin on the ground directly below...
-
Using the Munnell (1990) data set considered in the empirical example, estimate the Cobb-Douglas production function investigating the productivity of public capital in each state's private output...
-
What is the nature of creditors claims on assets?
-
What term describes creditors claims on the assets of a business?
-
How does acquiring capital from owners affect the accounting equation?
-
Why are gains/losses added back to (or deducted from) the cash from operations section of a cash flow statement?
-
Combination A, B, C, and F is the fifth most valuable with an NPV of $169,000. how did you came up with it?
-
Using a suitable example explain how you would check that equipment is ready for shut down to commence?
Study smarter with the SolutionInn App