Question

Check all that apply. Specific identification inventory valuation method would be used by: A milk pasteurization...

Check all that apply. Specific identification inventory valuation method would be used by:

A milk pasteurization company

home construction company

an airplane manufacturer

a soup company

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Specific identification inventory valuation method would be used by:

home construction company

an airplane manufacturer

Reason: Specific identification inventory method is used by those business which produces the items which are different from one another. or we can say which are unique. For example: Every home contructed by the company are unique and different from other also having different address floor and have different prices. same is case with plane manufacturing company.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Specific identification is sometimes said to be the ideal method of assigning cost to inventory and...
Specific identification is sometimes said to be the ideal method of assigning cost to inventory and to cost of goods sold. Briefly indicate the arguments for and against this method of inventory valuation
Specific identification is sometimes said to be the ideal method of assigning cost to inventory and...
Specific identification is sometimes said to be the ideal method of assigning cost to inventory and to cost of goods sold. Briefly indicate the arguments for and against this method of inventory valuation.
Which inventory valuation method provides for the highest profit in a period of inflation? LIFO FIFO...
Which inventory valuation method provides for the highest profit in a period of inflation? LIFO FIFO Weighted Average Specific Identification
Check all that apply. Under the perpetual inventory method, when a sales occurs, what accounts are...
Check all that apply. Under the perpetual inventory method, when a sales occurs, what accounts are included in the transaction: costs of goods sold sales inventory accounts receivable accounts payable
Nonny Company uses the LIFO method of inventory valuation. For Year 6, cost of goods sold...
Nonny Company uses the LIFO method of inventory valuation. For Year 6, cost of goods sold was $150,000. Beginning inventory was $25,000 and ending inventory was $30,000. If Nonny had used the FIFO method of inventory valuation, beginning inventory would have been $15,000 and ending inventory would have been $40,000. What would Nonny’s cost of goods sold in Year 6 have been if Nonny had used FIFO?
Yoseff Company uses the LIFO method of inventory valuation. For Year 5, cost of goods sold...
Yoseff Company uses the LIFO method of inventory valuation. For Year 5, cost of goods sold was $45,000. Beginning inventory was $5,000 and ending inventory was $6,000. If Yoseff had used the FIFO method of inventory valuation, beginning inventory would have been $8,000 and ending inventory would have been $11,000. What would Yoseff’s cost of goods sold in Year 5 have been if Yoseff had used FIFO?
Han Company uses the LIFO method of inventory valuation. For Year 10, cost of goods sold...
Han Company uses the LIFO method of inventory valuation. For Year 10, cost of goods sold was $300,000. Beginning inventory was $50,000 and ending inventory was $80,000. If Han had used the FIFO method of inventory valuation, beginning inventory would have been $75,000 and ending inventory would have been $122,000. What would Han’s cost of goods sold in Year 10 have been if Han had used FIFO? Write the dollar amount of your answer.
What are the main problems with valuation by price-earnings ratios? Check all that apply: A.Corporate debt...
What are the main problems with valuation by price-earnings ratios? Check all that apply: A.Corporate debt changes the price-earnings ratio. B.It is difficult to find comparable firms. C.Some P/E ratios are calculated for the company overall, while others are calculated on a per share basis. D.Different companies might use different accounting methods.
Using the specific identification method: a. Calculate the ending inventory. b. Calculate the cost of goods...
Using the specific identification method: a. Calculate the ending inventory. b. Calculate the cost of goods sold. Date Units purchased Cost per unit Ending inventory June 1 14 Echo Show’s 360 $ 284 4 Echo Show’s from June July 1 50 Echo Show’s 360 259 10 Echo Show’s from July August 1 68 Echo Show’s 360 249 7 Echo Show’s from August
Which 3 statements are true about revaluing inventory? (Select all that apply) A) An inventory valuation...
Which 3 statements are true about revaluing inventory? (Select all that apply) A) An inventory valuation adjustment can be created. B) An Obsolescence inventory asset account should be created. C) Best practice is to use a Clearing bank type of account to record entries. D) Use an inventory adjustment to adjust the quantity (and value) down to zero. E) Use a zero-dollar purchase transaction to revalue the inventory.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT