Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2011. Information for 2011 and 2012 is as follows, with certain data intentionally omitted: Bosco Company adopted the dollar-value LIFO retail method at the
Date Inventory Retail price Index Cost to retail percentage
Cost Retail
Inventory 1/1/11 21000 28000 1.00 ?
Inventory 12/31/11 22792 33600 1.12 ?
2012 net purcheses 600,000 88400
2012 net sales 80000
Inventory 12/31/12 ? ? 1.20

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

The distinction between a normal and an inferior good is

Quantitative problem: you need $20,000 to purchase a used car. your wealthy uncle is willing to lend you the money as an amortized loan. he would like you to make annual payments for 4 years, with the first payment to be made one year from today. he requires a 8% annual return. what will be your annual loan payments? round your answer to the nearest cent. do not round intermediate calculations. $ how much of your first payment will be applied to interest and to principal repayment? round your answer to the nearest cent. do not round intermediate calculations. interest: $ principal repayment