Mathematics, 29.07.2020 23:01 hailey200127
Jasper owns a small retail store as a sole proprietor. the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the beginning of the year inventory was 250,000. jasper uses the fifo method of inventory valuation. Which of the following statements are true?
a. jasper purchases more inventory during the year than sold during the same one year period.
b. jasper would have a higher net income
if he used the lifo method of inventory valuation instead of the fifo method
c. jasper has apparently decreased the volume of items in his ending inventory as compared to the number of items in his beginning inventory
d. since the cost of the stores inventory items is increasing, jasper will have a greater cost of goods sold figure under the fifo than the lifo.
e. none of the above
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Jorge planted flowers in his garden he planted one row of 12 tulips and one row of 36 daisies george's friend kylie has a garden with 75 flowers in it kylie's garden only contains tulips and daisies. is it possible for kylie‘s garden she have the same ratio of tulips to daisies as george's garden?
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Jasper owns a small retail store as a sole proprietor. the business records show that the cost of th...
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