On March 31, Oscar Corp. changes from the LIFO to the FIFO method. Its financial statement notes indicate that beginning inventory would have been $50,000 higher if it had utilized FIFO during prior years. Oscar's journal entry should include a Multiple choice question. debit to cost of goods sold. debit to inventory. credit to cost of goods sold. credit to inventory.

In each of the following cases, find the unknown variable. ignore taxes. (do not round intermediate calculations and round your answers to the nearest whole number, e. g., 32.) accounting unit price unit variable cost fixed costs depreciation break-even 20,500 $ 44 $ 24 $ 275,000 $ 133,500 44 4,400,000 940,000 8,000 75 320,000 80,000

Textile industry in a nation is characterized by vigorous domestic rivalry. which of the following observations of this nation's international competency is most likely to be true? the nation will have access to such basic factors of textile industry as natural resources. the nation's textile firms will have a competitive advantage in international trade. the domestic customers of the textile firms will be less demanding. the nation's textile industry will lack the advanced factors that are necessary to be internationally competent.

How do public goods limit a free market economy? a. they allow consumers to make only occasional economic decisions. b. they allow government to make some economic decisions. c. they allow consumers to make all of the economic decisions. d. they do not allow government to make any economic decisions.