In 2017,Richard's Department Store Changes Its Inventory Method from FIFO

question 70

Multiple Choice

In 2017,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: 2016 - $300,000; 2017 - $350,000.The 2016 price index is 110% and the 2017 index is 120%.The 2017 layer is

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

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Definitions:

Target Drift

The phenomenon where the intended target market or audience gradually changes over time, impacting marketing strategies.

Segment Shift

A change in market dynamics that leads to the movement of customers from one market segment to another due to factors like changing needs, emerging technologies, or competitive actions.

Differentiating

Differentiating involves making a product or service stand out from its competitors, through unique features, branding, or quality.

Competitive Advantages

Unique attributes or capabilities a company possesses that allow it to outperform its competitors.