Business, 15.04.2021 16:40 jhanellemo0112

Sletten Industries uses the last-in, first-out (LIFO) method of accounting for the inventories of its single product. For fiscal year 2017, the company reported sales revenue of $200 million and cost of goods sold of $135 million. The following table was reported in the financial statement footnotes ($ millions) January 1, 2020 December 31, 2020 Inventory value at LIFO $25 $28 LIFO Reserve 14 22 Inventory value at FIFO $39 $50 If Sletten Industries had used FIFO to account for its inventory, its 2020 gross profit would be

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 14:40

Which one of the following is a characteristic of a jit partnership? a. frequent deliveries in large lot quantities b. removal of incoming inspection c. third-party logistics never used d. maximal product specifications imposed on supplier e. active pursuit of vertical integration

Answers: 3

Answer

Business, 22.06.2019 11:20

You decided to charge $100 for your new computer game, but people are not buying it. what could you do to encourage people to buy your game?

Answers: 1

Answer

Business, 22.06.2019 12:00

In mexico, many garment or sewing shops found they could entice many young people to work for them if they offered clean, air conditioned work areas with high-quality locker rooms to clean up in after the work day. typically, traditional garment shops had to offer to get workers to apply for the hard, repetitive, and somewhat dangerous work. a. benchmark competitive wages b.compensating differentials c. monopoly wages d. wages based on human capital development of each employee

Answers: 3

Answer

Business, 22.06.2019 16:30

Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income

Answers: 1

Answer

You know the right answer?

Sletten Industries uses the last-in, first-out (LIFO) method of accounting for the inventories of it...

Questions