What is true in explaining ABC analysis? This process divides items into three classes according to their inventory level Class A items normally have the least dollar usages Class B and class C account for most of inventory items but not dollar usages  Class C accounts for the largest dollar usage of any class   Which one of the following is a reason to have small inventories? To improve customer service To reduce ordering costs To reduce equipment setup costs To reduce interest expense or opportunity costs

Q: All the following are true for absorption costing, except O is used for GAAP reporting purposes. O…

A: Hi studentSince there are multiple questions, we will answer only first question.Absorption costing…

Q: Proponents of the LIFO Inventory cost flow assumption argue that this costing method is superior to…

A: LIFO is one of the inventory methods used to account for inventory. Here the inventory of the…

Q: The Norfolk School of Commerce (NSC) operates a Career Counseling Center (CCC) to advise students…

A: Under costing two methods used for cost allocation. One is traditional costing other one is activity…

Q: Required: A. Perform a customer profitability analysis for Tennair. Compute the gross margin and…

A: Customer profitability analysisCustomer profitability analysis is the type of analysis done for the…

Q: Which one of the following is not considered an assumption of cost-volun O a. Fixed cost per unit is…

A: Option E is the correct answer i.e Cost can be Divided into variable and fixed components.

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A: In finance we use different financial ratios to determine the financial health and position of a…

Q: Like many technology companies, TechnoTools operates in an environment of decliningprices. Its…

A: The last in, first-out (LIFO) is a system utilized to store reports of the latest items first…

Q: Which one of the following inventories may not be valued for balance sheet purposes at the…

A: Inventory is valued only at lower of Cost or Net realizable value(which is the selling price minus…

Q: Concept Integration. Your appliance manufacturingcompany recently implemented a just-in-time…

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Q: Please answer in detail and tell me why other options are incorrect........   The most useful…

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Q: Refer to Supply Chain systems. What is the oplonich invonton?

A: Supply Chain System: A supply chain is a system of organizations, people, activities, information,…

Q: lowing information for Whispering Winds Corp.. Whispering Wi unting for its inventory transactions.…

A: FIFO Method : Date   Purchase     Cost of good sold     Inventory         Unit Unit cost Total…

Q: Which one of the following is not a disadvantage of the specific identification method of inventory…

A: Under specific identification methods of inventory, specific inventory movement is measured. So it…

Q: In a period of rising costs, which inventory valuation method would a company likely choose if they…

A: The objective of the question is to identify the inventory valuation method that would result in the…

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A: GIVEN    Under EOQ approaches, order costs can be minimised by placing large, infrequent orders for…

Q: QUESTION 1 A significant amount of accounting information is dedicated to planning and contraling…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: . What are some costs associated with high inventories? 3. What is a “supply chain,” and how are…

A: Inventory is defined as the goods and materials which the business holds for the purpose of resale.…

Q: It’s common in the electronics industry for unit costs of raw materials inventories to decline over…

A: Definition:   LIFO: Under this inventory method, the units that are purchased last are sold first.…

Q: Identify the following as applying more to lean (L) or to traditional (T) businesses. Inventory…

A:

Q: There are numerous inventory costing methods including FIFO, LIFO, and Weighted Average methods.…

A: Ans. There are 3 methods to value inventory and these are FIFO, LIFO and weighted average. Different…

Q: 1. Inventory management aims at a. increase customer service levels b. All of the above c.…

A: Inventory management refers to the process of ordering, storing and using a company's inventory.

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A: First in first out (FIFO) is one of the method of inventory valuation, under which inventories which…

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A: Lean businesses aim to: Reduce inventory levels--true

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A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 82,600…

A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…

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Q: Using the given data…find the answers for Formulas 1-10.  Sales  Variable manufacturing cost Fixed…

A: Sales = Selling price per unit * number of sold units = 30*80000 = $24,00,000 Variable manufacturing…

Q: Keeping track of inventory and keeping carrying costs down.  How do you think those issues would…

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Q: The specific identification inventory costing method: Select one: a. Is more appropriate for a firm…

A: The question is based on the concept of Cost Accounting.

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A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

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Q: Select one: A. Economic Order Quantity (EOQ) B. Safety stock C. Order point D. None of the a

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.