What Is the Unextended Due Date of the Tax Return

question 136

Multiple Choice

What is the unextended due date of the tax return of a calendar-year corporation for 2017?

• A) February 15.
• B) March 15.
• C) April 15.
• D) September 15.

Understand the application and calculation of cost concepts in product pricing.

Differentiate between various pricing concepts like cost-plus, target cost, and competition-based pricing.

Calculate desired profit based on return on investment criteria.

Calculate markup percentage and determine its impact on product pricing.

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Definitions:

FIFO Method

A method of inventory valuation where the first items placed in inventory are the first sold, standing for "First In, First Out."

Inventory Amount

refers to the total cost or market value of all the goods and materials a company has in stock at a given time.

LIFO

"Last In, First Out," a method of inventory valuation where the most recently produced or acquired items are the first to be expensed.

Average Inventory

The mean value of a company's inventory over a specified period, often used to calculate turnover rates and efficiency in managing stock levels.