According to Womack and Jones, the following are the five essential lean standards: respect, respect, respect, pull, and flawlessness.
You can guarantee that customers receive precisely what they require while simultaneously lowering the cost of producing that product or service by reducing and terminating pointless cycles or steps.
The highly persuasive production framework TPS served as the inspiration for the Lean approach to business process management, which is based on three fundamental standards: conveying the client's respect, getting rid of waste, and consistently improving.
The following are the five principles that are regarded as a recipe for increasing workplace efficiency:
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The type of unemployment resulting from the fact that labor market information is less than perfect is called?.
The type of unemployment resulting from the fact that labor market information is less than perfect is called Frictional unemployment.
What is frictional structural and cyclical unemployment?Frictional unemployment, which has nothing to do with the economic cycle and is voluntary, entails people changing occupations.A downturn in a sector or a change in technology are only two examples of how changes in the economy can directly cause structural unemployment.The fact that market procedures take time and that knowledge might be expensive is a natural outcome that leads to frictional unemployment.It takes time and effort to look for a new job, acquire new employees, and match the right employees with the right jobs. Frictional unemployment is the result of this.
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a consumer who is risk neutral is best characterized as .
Those who take a risk-neutral approach do not focus on risk, whether it is unwise or not. This view is often contextual and may depend on price and other external factors.
Therefore, risk averse people are the most likely to buy insurance. However, risk neutrals and risk takers are more likely to buy insurance if they have different perceptions of risk. Instead, risk-neutral investors prefer to focus on the potential return of an investment. Given two investment options, a risk-neutral investor would choose to consider only the return of each investment and ignore the potential risks (if they are aware of the risks involved). there is).
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before settling on a final short-term financial plan, the manager needs to ask several questions. which question is the manager least likely to ask? multiple choice would the firm do better to arrange long-term financing to cover any cash shortage? does the company need a larger reserve of cash or marketable securities to cover emergencies? has the firm estimated its eva correctly? does the plan yield satisfactory financial ratios?
Before settling on a final short-term financial plan, the manager needs to ask several questions. The odd one out is estimation of Economic Value Added (EVA) is not required in preparing a short-term financial plan.
What is Economic Value Added?Economic value added (EVA) is a metric used to assess a company's financial performance. It is based on the residual wealth that is determined by the subtraction of operating profit from the cost of capital on a cash basis after taxes have been taken into account. Economic value added, which aims to measure a company's genuine economic profit, is also known as a short-term financial plan. Stern Value Management, which was first formed as Stern Stewart & Co., developed this measure.
The incremental difference between the rate of return (RoR) and a company's cost of capital is known as Economic value added. In essence, it's used to gauge the value a business creates from the money spent on it. A negative Economic value added indicates that a company is not making money from the capital put in the short-term financial plan. A corporation is demonstrating value from the money invested in it if its Economic value added is positive, on the other hand.
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what cost should a farmer consider when deciding whether to adopt intercropping as a sustainable farming practice?(1 point) responses increased labor expenses increased labor expenses decreased soil quality decreased soil quality higher risk of disease higher risk of disease increased fire risk
Intercropping has a lot of benefits, but it increases labor cost.
To grow two or more types of crops on the same plot simultaneously on alternate row. In intercropping, the crops uses the resources such as light water and nutrients more effectively as compared to in single cropping, it decreases the risk of pest infection.
Intercropping has a lot of benefits but simultaneously requires employment of large numbers of labors to take care of the farms, hence thereby increase the labor expenses.
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true or false: many of the items that a firm stocks in inventory are generic regardless of the kind of business it engages in.
Many of the items that a firm stocks in inventory are generic regardless of the kind of business it engages in. This statement is FALSE.
All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory.
Example: Only the newspaper will be regarded as inventory if a newspaper vendor utilizes a vehicle to distribute newspapers to clients. The car will be considered an asset.
Both the products that are on hand for sale and the raw materials required to make those products are considered inventory. The three different categories of inventory are raw materials, finished commodities, and work-in-progress. As items are produced or acquired as needed, inventory management enables organizations to reduce inventory expenditures.
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isla just graduated from college. she is going to tour the country before she looks for work. other things the same, the unemployment rate
If Isla goes for a tour after her college graduation, then both unemployment rate and the labor-force participation rate remain unaffected.
Employment refers to the relationship between the employee and the employer, wherein the employee is paid for the work they do on a regular basis and given paid leaves. Unemployment is the condition when people who are qualified and are in search of a job aren't able to find a suitable job that matches their qualifications. If a person is not in search of a job, then they may not be classified as unemployed. The labor force participation rate is defined as the ratio of labor force present to the total working-age population. The labor force is the sum of the employed plus the unemployed.
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Refer to complete question below:
Isla just graduated from college. In order to devote all her efforts to college, she didn't hold a job. She is going to tour around the country on her motorcycle for a month before she starts looking for work. Other things the same, the unemployment rate
Simon bought three plants at a nursery for $17. 94. How much would it cost for simon to go back to the store and buy two more plants?.
The cost for simon to go back to the store and buy two more plants is 11.96 or 11 . 24/25
What is the cost?
The amount of money that a business had to spend on the production of its goods or services is known as the cost.
Simon bought three plants at a nursery for $17. 94
Formulate based on the conditions stated:
2* 17.94 / 3
Determine the quotient or product:
[tex]\frac{35.88}{3\\}[/tex]Use the same number to multiply the numerator and denominator:
[tex]\frac{3588}{300}[/tex]Remove the connecting element:
[tex]\frac{299}{25}[/tex]get the outcome:
11.96 or 11 . 24/25
Three plants cost $17.94.1 plant costs $17.94/3.One plant costs $5.98.Cost of two plants is $5.98 * two, or $11.96.To learn more about cost refer to:
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which of the following constitute(s) consideration as an element of a contract? a. giving up a legal right b. performance of a unilateral contract c. real or personal property that has a legally recognized value. d. all of the above
The following constitute(s) consideration as an element of a contract real or personal property that has a legally recognized value.
Something of price became promised in alternate for the required movement or nonaction. This can take the shape of a huge expenditure of cash or effort, a promise to carry out a few services, and settlement now no longer to do something, or reliance at the promise.
The primary factors required for the settlement to be a legally enforceable agreement are mutual assent, expressed through a legitimate provide and acceptance; ok attention; capacity; and legality. In a few states, factors of attention may be happy through a legitimate substitute.
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if a tariff raised the world price to $4 a shirt, how much deadweight loss would it create? a. $5,000,000 b. $10,000,000 c. $120,000,000 d. $200,000,000
The deadweight loss it would create is $10,000,000.
What is deadweight loss?The production and consumption of any given good or service, including taxes, must match in order to avoid deadweight loss in economics. Deadweight loss is most frequently detected when the quantity generated compared to the quantity consumed deviates from the optimal concentration of surplus. This discrepancy in the amounts represents the amount that is not being used or eaten, causing a loss. Since neither the producers nor the consumers benefit from the excess of the total production, this "deadweight loss" is therefore attributed to both groups. When the socially ideal quantity of a good or service is not produced, deadweight loss can also be used as a measure of lost economic efficiency.
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president barack obama and congress cut taxes and raised government expenditures during the 2008 financial crisis. according to the aggregate supply and aggregate demand model, which of these policies would tend to reduce unemployment? a. both the tax cut and the increase in government expenditures b. the tax cut but not the increase in government expenditures c. neither the increase in government expenditures nor the tax cut d. the increase in government expenditures but not the tax cut
Both the tax reduce and the boom in authorities expenditures ; those rules could have a tendency to lessen unemployment.
The required details for government expenditures in given paragraph
Government spending or authorities expenditure may be divided into 3 number one groups, authorities intake, switch payments, and hobby payments. Government intake are authorities purchases of products and offerings. In country wide profits accounting, the purchase via way of means of governments of products and offerings for modern-day use, to immediately fulfill the character or collective wishes of the community, is assessed as authorities very last intake expenditure. Government acquisition of products and offerings meant to create destiny benefits, along with infrastructure funding or studies spending, is assessed as authorities funding . These forms of authorities spending, on very last intake and on gross capital formation, collectively represent one of the primary additives of gross home product.
Government spending may be financed via way of means of authorities borrowing, taxes, custom duties, the sale or rent of herbal resources, and numerous charges like countrywide park access charges or licensing charges. When Governments pick to borrow cash, they have got to pay hobby at the cash borrowed. Changes in authorities spending is a primary issue of financial policy used to stabilize the macroeconomic commercial enterprise cycle.
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the individual firm, operating under perfect competition, is characterized as: group of answer choices a price strategist a price taker a price maker one of a few sellers interdependent
The individual firm, operating under perfect competition, is characterized as a prize taker.
An individual or business that must accept market prices because it lacks the market share to do so on its own is known as a price-taker. In a market where there is perfect competition, all players in the economy are regarded as price takers. This is valid for both sellers and purchasers in the debt and stock markets as well as producers and consumers of commodities and services. Therefore, option B is the correct choice.
A single buyer or seller does not possess sufficient market power to control the market's price or output. In the firm, there are no obstacles to entering or leaving. Every company and consumers are involved in the market shares.
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inconsistency of the message and blank are disadvantages of personal selling for promotion. multiple choice question. high cost lack of credibility lack of control over audience propensity to cause conflict with competitors
Inconsistency of the message and high cost are disadvantages of personal selling for promotion.
High cost – how to use in a sentence?Due to their comparatively high cost and energy consumption, these are inappropriate for use in portable devices.
Due to the expensive expense, many businesses install meters haphazardly, for instance if there is a change in occupancy at a facility.
Where is the use of personal selling?Companies most frequently use personal selling when their goods or services are expensive, highly specialized, or technically complex, like homes, cars, complex software systems, and business consulting services.
What does promotion mean?The term "promotion" covers a wide range of activities designed to increase public awareness or advance a product. Promotion in the context of a career means raising a worker's position or rank within a hierarchical structure.
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price quantity tc $50 0 $10.00 $50 1 $20.00 $50 2 $27.50 $50 3 $77.50 $50 4 $147.50 $50 5 $250.00 what are the firm's fixed costs?
The total costs for various output levels for a company operating in a competitive market with perfect competition are shown in the table below. 10 dollars are the company's fixed costs.
competitive market in economics refers to a situation where multiple economic enterprises are vying for the same product's while adjusting the price, product, promotion, and place components of the marketing mix. When there are many consumers and producers, the market is said to be competitive. The supply curve, which depicts a product's quantity, shows how it responds to supply and demand fluctuations. The following are some examples of the different market structures: Monopolistic competition, also known as a competitive market, occurs when there are many businesses, each with a limited part of the market and marginally distinct products. A robust U.S. economy depends on healthy market competition. When businesses must compete for customers, basic economic theory shows.
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FILL IN THE BLANK is the tendency to gravitate toward, and bid for, auction listings with one or more existing bids.A) Group buyingB) Winner's regretC) Herd behaviorD) Bid rigging
Herd behavior is the tendency to gravitate toward, and bid for, auction listings with one or more existing bids.
What kind of behavior is typical of a herd?
Examples of Herd Behavior Humans frequently exhibit herd behavior when in fear or panic; For instance, a free in a building frequently results in herd behavior, with individuals frequently suspending their individual reasoning and forming a pack.
What is the central concept behind herd behavior?
Human herd behavior is a social behavior in which individuals submit their individual will, thoughts, and actions to those of the group as a whole, the herd or group.
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mario owns a small business. he hires new employees, monitors their work, and appraises their performance. what form of power is mario using?
Legitimate form of power Mario is using.
What is legitimate power?The formal authority granted to a person within an organization is known as legitimate power. Legitimate power is a type of positional power because it derives from a position or work title.There are different tiers of authority in any effective system. The working environment is given structure and a sense of order as a result.An individual must be in a certain position of authority inside an organization in order to have any sort of legitimate power. As a result, they have influence over others and are able to make decisions that affect the entire system.To learn more about Legitimate, refer to
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_____ is the study of the impact that changes in one or more variables of a decision-making model have on other variables.
Discovering the cause-and-effect relationship between variables and determining how a change in one variable affects another are the goals of causal analysis.
Why do we conduct causal analysis?Understanding and addressing the causes and effects of a challenge or issue requires the application of causal analysis. Causal analysis assists in locating the underlying causes of an issue so that the symptoms can be lessened rather than only being treated as symptoms.A change in one variable might have an impact on other variables, and causal analysis looks at how these relationships are causally related.We propose three statistical techniques for causal analysis in life course research that can take into account the sequence of events and potential causal relationships: a cross-lagged model, a latent growth model (LGM), and a synthesis of the two, an autoregressive latent trajectories model (ALT).To learn more about Casual analysis refer to:
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if a 30 % change in price causes a 15 percent change in quantity supplied, then the price elasticity of supply is: select one: a. 0.5 and supply is elastic. b. 0.5 and supply is inelastic. c. 2 and supply is inelastic. d. 2 and supply is elastic.
If a 30 percent exchange in price reasons a fifteen percent exchange in quantity provided, then the rate elasticity of supply is. b. 0.5, and supply is inelastic.
Inelastic products are common necessities without proper substitutes. The maximum common items with an inelastic call are utilities, prescribed drugs, and tobacco products. corporations offering such merchandise preserve more flexibility with charges because demand remains regular even supposing prices increase or lower.
A product is considered to be elastic if the amount calls for the product adjustments extra than proportionally when its price increases or decreases. Conversely, a product is considered to be inelastic if the quantity called for of the product changes very little while its fee fluctuates.
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summerlin company budgeted 4,800 pounds of material costing $7.00 per pound to produce 2,100 units. the company actually used 5,300 pounds that cost $7.10 per pound to produce 2,100 units. what is the direct materials price variance?
The company actually used 5,300 pounds that cost $7.10 per pound to produce 2,100 units. the direct materials price variance $3,550 is unfavorable.
Direct Material Costs Direct material costs that are readily identifiable by production unit. For example, the cost of glass is a direct material cost in manufacturing a light bulb. Materials are the most important factor in the manufacture of products and goods.
Material costing is the process of determining the costs at which inventory items are brought into inventory and valuing them in accounting records.
Direct material costs are the costs of raw materials or parts used directly in the manufacture of the product. For example, if Company A is a manufacturer of toys, an example of a direct material cost would be the plastics used to make the toys.
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What would be a typical situation that might cause a country to consider dollarization?.
Dollarization is the process by which a country begins to recognize the dollar as valid currency in addition to or instead of its own.
Why have countries accepted dollarization, and what does it entail?The process of formally adopting the U.S. dollar or the currency of another country as the domestic unit of account of the second country is known as "dollarization." For a variety of reasons, including improved price stability and an end to abrupt, quick devaluations of the national currency, a government may decide to dollarize.
How is dollarization accomplished?"Dollarization" is the process of using the U.S. dollar either in addition to or instead of another country's indigenous currency. It serves as a superb example of monetary conversion.
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conceptually, why should you expect valuation based on dividends and valuation based on the free cash flows for common equity shareholders to yield identical value estimates?
Common equity can be valued either directly by calculating the present value of FCFE or indirectly by first estimating the firm's value using an FCFF model, and then deducting the value of other capital (often debt), in order to obtain an estimate of the value of equity.
Why are anticipated dividends included in a value model?Dividends indicate the actual cash flows going to the shareholder, so pricing the present value of these cash flows should provide you with a value for how much the shares should be worth. This is the reason for using dividends to value a firm.
Free cash flow is utilized in appraisal because...The money that remains after paying creditors and shareholders is known as free cash flows (FCF) from operations. FCF can be utilized to help value firms because it has a residual value.
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5. what if the customer for job 40 was able to pay for the job by june 30? what would happen to the balance in finished goods?
The cost of goods sold will rise and the finished goods will fall if the client for job 40 can pay for the work by June 30.
A higher cost of goods sold results in a firm paying less tax, but it also reduces the company's profit. There must be a change. Profits should be increased by lowering the cost of items.
Your inventory will be included in the cost of goods sold on your balance sheet if your company purchases products to resell. If you purchase less stock, your income statement's COGS figure will be lower than if you bought more, provided you have sold the merchandise you have already purchased.
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true or false: information assymetry often occurs as a result of the buyer having more or better information than the seller.
The statement is True. Information asymmetry often occurs as a result of the buyer having more or better information than the seller.
Breast asymmetry refers to the advent of a part of the breast in contrast to the remainder of that breast and to the alternative breast. A radiologist will study a mammogram to study the difference in position, volume, and shape of the breasts.
In most instances, breast asymmetry is flawlessly normal. In truth, the 2 facets of the whole body might be slightly distinctive, though any asymmetry can be extra substantial within the breasts. But, if a person notices an alternate inside the length or form of one breast, they ought to see a doctor to discover the reason.
Uneven information arises when one party to a financial transaction has greater or higher records than every other and uses that to their gain. This causes marketplace failures, including examples like adverse choice and the so-called lemons hassle.
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When the goal of decision making is to make a generally satisfactory decision within reasonable time constraints, you should probably utilize.
When the goal of decision making is to make a generally satisfactory decision within reasonable time constraints, you should probably utilize the bounded rationality decision making model.
What is decision making?Decision-making is considered a cognitive process that leads to the choice of a belief or course of action among several possible alternatives. It can be either rational or irrational. A good decision maker chooses the actions that bring the best result for himself and others. They participate in the decision-making process with an open mind and do not let their prejudices influence them. They make decisions rationally after exploring the options and understanding the consequences.
The ability to make constructive and respectful choices about one's behaviour and social interactions, based on ethical norms, safety issues, social norms, a realistic assessment of the consequences of various actions and the well-being of oneself and others.
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it is ideal for key management slots to be filled from outside . a. in turnaround and rapid-growth situations b. when problems with the old strategy are obvious c. in a worst-case scenario d. when the managerial whole is greater than the sum of individual efforts e. in a centralized structure
It is ideal for key management slots to be filled from outside turnaround as well as rapid-growth situations.
So, the correct option is A.
Different sets of managerial skills are required to implement the strategy and ensure that the organization does so successfully. Strategy execution is primarily operations-driven, focusing on the management of people, business processes, and organizational structure, as opposed to strategy formulation, which is largely an analysis-driven activity focused on market conditions and the company's resources and capabilities.
Working well with and through others, developing and bolstering competitive capabilities, and developing a suitable organizational structure are all necessary for successful strategy execution. Teamwork is necessary for successful strategy execution. Every manager is accountable for implementing strategies in their spheres of influence, and every employee actively contributes to this process.
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Ian invests $13,670 in a savings account at his local bank which gives 1. 9% simple annual interest. He also invests $6,040 in an online savings account which gives 4. 5% simple annual interest. After nine years, which one will have earned more interest, and how much more interest will it have earned, to the nearest dollar?.
The online account will have earned $109 more interest because it annual simple interest in greater tham that of local bank account.
Simple interest :
Interest=Principal× Interest rate ×Time
To calculate the interest earned of local account
Interest=$13,670×0.019×9
Interest=$2,337.57
Now, to calculate the interest earned of online account
Interest=$6,040×0.045×9
Interest=$2,446.2
So,the difference in interest earned
Difference=$2,446.2−$2,337.57
Difference=$109
So, online Account will gain more interest after 9 years The online account will earn $109 more interest.
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the statute of frauds b) prevents contracts with minors. a) requires that contracts with minors be in writing. d) is an english law that does not apply in canada. e) renders unenforceable contracts with minors. c) renders unenforceable certain types of contracts unless they are in writing.
The statute of frauds renders unenforceable certain types of contracts unless they are in writing.
What is a quillet about the Statute of Frauds?Every state has laws stating that some sorts of contracts can only be enforced if they are in writing, are supported by a written memorandum, or are signed electronically.
What is the main goal of the Frauds Statute?The goal is to stop fraud and other types of harm. Contracts involving the sale or transfer of land and contracts that cannot be completed within a year are the most frequent contract kinds to which the Act applies.
What is the Statute of Frauds' fundamental principle?Common law holds that certain agreements must be in writing to be enforceable (the statute of frauds). The law is applicable to land sales and the majority of expenditures of $500 or more. There are important exceptions, like verbal agreements where work has already begun.
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a salesperson does most of the talking early to make key points before bringing the customer along to answer questions in the .
The correct answer is selling formula approach.
A sales strategy in which the goal of the sales presentation is to move the buyer through various decision-making phases, such as grabbing their attention, piqueing their interest, creating a desire, and persuading them to take action.
Selling directly to clients in a non-retail setting is known as direct selling. One have the advantage of seeing the customer in person, so one can watch their body language and facial emotions. One must simultaneously be quick on their feet and able to make quick adjustments.
Replicate the actions and vigor of the buyer. One don't have to perfectly replicate them—that would be unsettling. But if one match their energy, one will make them feel comfortable and make them relate to you.
One should be at ease and calm if they seem to be. One should assume a professional and formal tone if they are more formal and stiff.
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What is the minimum earned income threshold for the additional child tax credit for tax year 2022?.
The minimum earned income threshold for the additional child tax credit for tax year 2022 will be a minimum of $2,500 of earned income to claim the ACTC.
Tax compliance refers to the national policies and personal behavior designed to ensure that taxpayer pays the correct amount of tax at the right time and securing the relevant tax allowances and tax reliefs.
A tax is a mandatory financial charge or other type of levy imposed on a taxpayer by the a governmental organization in order to fund government spending and numerous public expenditures. Around 3000–2800 BC, Ancient Egypt saw the first recorded taxes.
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although almost everyone advocates a balanced budget, every spending program and tax break is defended by organized beneficiaries but why does deficit reduction have less organized support? question 22 options: it is an unrealistic goal. it is an economically unsound idea. it is a concentrated particularized benefit. it is a diffuse collective good.
As a dispersed public good, debt reduction receives less structured support.
Any strategy for lowering a government budget deficit is referred to as deficit reduction. Deficits can relate to a variety of topics, including trade or fiscal deficits. The budget deficit of the United States government is one instance of a deficit.
The CBO asserts that in order to achieve long-term goals, it is preferable to handle high and rising debt sooner rather than later. A lesser amount of debt will have accumulated, posing less of a threat to long-term economic growth and stability, as a result of earlier deficit reduction.
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esquire incorporated uses the lifo method to report its inventory. inventory at the beginning of the year was $780,000 (39,000 units at $20 each). during the year, 118,000 units were purchased, all at the same price of $29 per unit. 121,000 units were sold during the year. assuming an income tax rate of 25%, what is lifo liquidation profit or loss that the company would report in a disclosure note accompanying its financial statements?
Based on the amounts of inventory and the income tax rate, the LIFO liquidation profit would be $18750.
The LIFO liquidation profit:
Lifo assigns an amount to the cost of goods sold on the income statement that approximates its current cost; it also better matches current costs with revenues in computing gross profit.
First, find the COGS:
= (118,000 x 29) + (4,000 x 25)
= $3,522,000
The LIFO liquidation profit is:
= (Sales - COGS) x ( 1 - Tax rate)
= ((121,000 x 29) - 3,522,000) x (1 - 25%)
= $18,750
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