In 2016,Richard's Department Store Changes Its Inventory Method from FIFO

question 38

Multiple Choice

In 2016,Richard's Department Store changes its inventory method from FIFO to LIFO.Richard's uses the simplified LIFO method.Richard's year-end inventory under FIFO is as follows: 2015 - $300,000;2016 - $350,000.The 2015 price index is 110% and the 2016 index is 120%.The 2016 layer is

• A)$19,097.
• B)$20,833.
• C)$22,727.
• D)$50,000.

Recognize the concept of external and internal equity in compensation.

Comprehend the role and structure of nonmandated and mandated benefits in employee compensation.

Understand the specific benefits provided to executives and their implications.

Identify the steps and elements involved in the factor-comparison method for job evaluation.

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Definitions:

Redundant Outcome

A result or conclusion that is unnecessarily repetitive or more than what is needed, often without adding value.

Observable Communication

The aspects of communication that can be seen or heard directly, such as body language or tone of voice.

Repetitive Loop

A cycle of repeated actions, behaviors, or thoughts that individuals or systems may become stuck in, making it difficult to progress or change.

Nonintimate-aggressive Relationships

Relationships characterized by a lack of closeness or affection, combined with hostile or aggressive interactions.