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What was the total cost incurred in August?

At the end of the year, overhead applied was $4,150,000, while actual overhead was $3,720,000. Closing over/underapplied overhead into Cost of Goods Sold would cause net income to:

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At the end of the year, overhead applied was $4,150,000, while actual overhead was $3,720,000. Closing over/underapplied overhead into Cost of Goods Sold would cause net income to: Answer

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Under which method of inventory accounting are the most recent inventory costs matched with current revenues?a) LIFO (Last-In, First-Out)b) FIFO (First-In, First-Out)c) Average Cost Methodd) Specific Identification Method

What is the goal of cost accounting? Explain it