Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
You sit down with Caffe Gustoso's owners to discuss your online advertising plans. You tell the owners that if they decide to incorporate search marketing into the plan, there are three primary payment options: pay per action, pay per click, and pay
Answers (2)
The ability for a business to pay all that is owed is called what? a. Technology b. Strategies c. Obsolesce d. Solvency
Answers (2)
In a database, you are unable to insert a new column or field. True? False?
Answers (1)
A treasury bond due in one year has a yield of 6.2%; a treasury bond due in 5 years has a yield of 6.7%. a bond issued by xerox due in 5 years has a yield of 7.9%; a bond issued by exxon due in one year has a yield of 7.2%.
Answers (1)
The narrowest definition of the money supply (M1) includes: a. cash and travelers' checks. b. cash, travelers' checks, and savings account balances. c. cash, checking account balances, and travelers' checks. d.
Answers (1)
New Questions in Business
In which year were tobacco commercials banned from network television in the united states?
No Answers
Maggie's manager notices that she exhibits an external locus of control when she speaks about her work. Her manager should Group of answer choices a. direct Maggie toward a job with more autonomy. b.
Answers (1)
Consider this argument: "The kidnappers have taken eight people hostage and are holding them at a farmhouse just outside town. If the SWAT team assaults the farmhouse, the hostages could be killed.
Answers (1)
Rent seeking is an attempt to A. use the government for individual benefit at the expense of others. Regulatory capture is an example of this, where a regulatory agency makes decisions benefiting the firm being regulated. B.
Answers (1)
An Insurance company is a business in which it pays to the company if there is a loss, damage, treatments or injury for the payment of premium amount. It calculates the risks that has occurred and pays to compensate the premium amount.
Answers (1)