subject
Business, 20.11.2019 23:31 klongstreet1731

Melas company changed from the lifo to the fifo inventory costing method on january 1, year 3. inventory values at the end of each year since the inception of the company are as follows:
fifo lifo
year 1 $ 195,000 $ 177,500
year 2 390,000 355,000
ignoring income tax considerations, prepare the appropriate journal entry, dated january 1, year 3, to report this accounting change. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 20:30
Which of the following statements regarding the learning curve and economies of scale is accurate? answers: just as diseconomies of scale are presumed to exist if a firm gets too large, there is a corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.where diseconomies of scale are presumed to exist if a firm gets too large, there is no corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.where diseconomies of scale are presumed to exist if a firm gets too small, there is no corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.just as diseconomies of scale are presumed to exist if a firm gets too small, there is a corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.
Answers: 1
question
Business, 22.06.2019 01:40
At the local level, the main role of ctsos is to encourage students to become urge them to programs and competitive events. 1. a.interns b.trainees c.members 2. a.participate b.train c.win
Answers: 2
question
Business, 22.06.2019 09:00
Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25
Answers: 3
question
Business, 22.06.2019 20:30
When patey pontoons issued 4% bonds on january 1, 2018, with a face amount of $660,000, the market yield for bonds of similar risk and maturity was 5%. the bonds mature december 31, 2021 (4 years). interest is paid semiannually on june 30 and december 31?
Answers: 1
You know the right answer?
Melas company changed from the lifo to the fifo inventory costing method on january 1, year 3. inven...
Questions
question
Mathematics, 12.02.2020 03:47
Questions on the website: 13722367