Business
Business, 19.10.2021 05:30, willjean6978

baker company uses the lifo method for financial reporting purposes but fifo for internal reporting purposes. at january 1, 2020, the lifo reserve has a credit balance of $1,300,000. at december 31, 2020, baker’s internal reports indicated that the fifo inventory balance was $2,900,000 and for external reporting purposes the lifo inventory balance was $1,500,000. what is the amount of the lifo effect related to 2020?

answer
Answers: 3

Other questions on the subject: Business

image
Business, 20.06.2019 18:04, nicoleamor
The chart shows a production possibilities schedule for sabrina’s soccer. combination: soccer balls: soccer nets: a 10 0 b 8 1 c 6 2 d 4 3 e 2 4 f 0 5 which statement correctly explains the chart? a. the opportunity cost of producing one soccer net is eight soccer balls. b. the opportunity cost of producing two soccer nets is two soccer balls. c. the opportunity cost of producing two soccer balls is one soccer net. d. the opportunity cost of producing four soccer balls is three soccer nets.
Answers: 1
image
Business, 22.06.2019 17:30, leannhb3162
Aproject currently generates sales of $14 million, variable costs equal 50% of sales, and fixed costs are $2.8 million. the firm’s tax rate is 40%. assume all sales and expenses are cash items. (a). what are the effects on cash flow, if sales increase from $14 million to $15.4 million? (input the amount as positive value. enter your answer in dollars not in (b) what are the effects on cash flow, if variable costs increase to 60% of sales? (input the amount as positive value. enter your answers in dollars not in millions). cash flow (increase or decrease) by $
Answers: 2
image
Business, 23.06.2019 09:30, Mariela2699
Determine the fundamental ways in which the ncaa's ethics program failed to prevent the scandals at penn state, ohio state, and the university of alaska. support your response with one (1) example from each of these schools' scandals. examine the principal ways in which the leadership of the ncaa contributed to the ethical violations of penn state, ohio state, and the university of alaska. support your response with one (1) example from each of these schools' scandals.
Answers: 2
image
Business, 23.06.2019 10:00, bighomie28
When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transaction (b) is
Answers: 1
Do you know the correct answer?
baker company uses the lifo method for financial reporting purposes but fifo for internal reporting...

Questions in other subjects:

Konu
Mathematics, 17.04.2020 18:06