Saturday
August 2, 2014

Homework Help: math

Posted by keri on Tuesday, November 12, 2013 at 3:09pm.

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

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

math - jasper owns a small retail store as a sole proprietor. the business ...
math help please - jasper owns a small retail store as a sole proprietor. the ...
math help please - jasper owns a small retail store as a sole proprietor. the ...
finance - Home Builder Supply a retailer in the home improvement industry, ...
math - a party suppilies store recored net sales of $423,400 for the year. the ...
Marketing3 - Develop a chart to highlight the role of each of the four main ...
Mathematical Applications - For the life of me, I cannot understand this ...
cis 324 - Your sister owns a small clothing store. During a conversation at a ...
social studies - Jasper, who already had 6 cookies, has just taken the last ...
Math please check answer - please check my answer thanks :) A Pet supply store ...

Search
Members