complete the following table which compares the effects of LIFO,  FIFO and weighted-average inventory costing methods on the financial statement in periods declining inventory costs. the answer should be lowest, highest, or middle.  financial statement element: LIFO FIFO weighted-average  cost of goods sold        net income        ending merchandise  inventory

Q: D) $408,000.

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A: a.

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A:

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.