The Following Information Can Be Found in Manufacturer Company's Financial

question 66

Multiple Choice

The following information can be found in Manufacturer Company's financial statements. $\begin{array}{llll}&\underline{2006}&\underline{2005}\\\text { COGS } & \$ 2,500,000 & \$ 2,000,000 \\\text { Inventory } & \$ 180,000 & \$ 140,000 \\\text { Net income } & \$ 125,000 & \$ 100,000 \\\text { Retained earnings } & \$ 500,000 & \$ 400,000 \\\text { LIFO reserve } & \$ 40,000 & \$ 30,000\\\text { Tax rate }&40\%&40\%\end{array}$

-If Manufacturer used FIFO, its net income for fiscal 2006 would be:

• A)$165,000.
• B)$149,000.
• C)$135,000.
• D)$131,000.

Recognize and apply ethical and effective practices in conducting background checks and interviews.

Understand the stages of the employment interview process and the objectives of each stage.

Understand the role of biographical and application information in predicting job performance and fit.

Comprehend the significance of test validation approaches (e.g., content, construct) for effective selection.

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Definitions:

Flows

In economics, movements of goods, services, capital, or money among different sectors or regions within an economy.

Profit Stream

A continuous flow of profits over time from a business operation or investment.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return, considering the time value of money.

Hiring Capital

The resources, often financial, that an organization allocates to the process of recruiting and acquiring new employees or talent.