In the context of dollar-value LIFO, what is a LIFO layer?

Select one:

a. The LIFO value of an increase in the inventory for a given year.

b. The inventory in base year dollars.

c. The LIFO value of the inventory for a given year.

d. The difference between the LIFO inventory and the amount used for internal reporting purposes

Use this image to answer the following question. when the economy is operating at point b, the us congress is most likely to follow

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine