Register
When prices change during a period, a company can combine the principles of the retail LIFO method with the dollar-value LIFO method to eliminate the effects of this price change. This combination is called
184k views
5 votes
When prices change during a period, a company can combine the principles of the retail LIFO method with the dollar-value LIFO method to eliminate the effects of this price change. This combination is called:______

User George Miller
by
6.1k points

1 Answer

1 vote

Answer:

Dollar value LIFO retail method

Step-by-step explanation:

Dollar-Value LIFO aim to reduces the effect of the liquidation, allows companies to use FIFO internally and also reduces clerical costs.

Dollar value LIFO retail method are retailers way of getting or achieving the LIFO cost flow without monitoring individual units and this may lead to low liquidation of LIFO cost layers that could occur during tracking.

User Demonyowh
by
6.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.6m questions

8.7m answers

Other Questions

One reason that businesses want to combine with other businesses is to A. avoid taxes. B. delay expenses. C. hire more workers. D. reduce expenses.
Which of the following possesses the sole power to create revenue bills?
Which of the following is an example of a fixed expense? A.) Clothing B.) Rent C.) Food D.) Entertainment
A ______ is "the basic interpretive mechanism to let people know what an organization is doing and are sent out to editors and reporters in hopes of stimulating favorable stories about their organizations"
All of the following are fees typically charged by credit card companies EXCEPT: A. Late payment fee B. Balance Transfer fee C. Annual membership fee D. Reload fee
Link Copied!