See-Saw Ltd Uses Moving Weighted Average for Its Inventory,which Is

question 10

Multiple Choice

See-Saw Ltd uses moving weighted average for its inventory,which is valued at $276 000.It is considering a change to FIFO,which would decrease the valuation to $245 000.Which of the following would be increased by the change?

• A) retained profits
• B) income tax payable
• C) cost of goods sold
• D) sales.

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Definitions:

Oligopolies

A market structure characterized by a small number of large firms that dominate the market, often leading to limited competition.

Technological Advances

Innovations and improvements in technology that increase productivity and efficiency in the production process.

Herfindahl-Hirschman Index

A measure used to assess the level of market concentration and competition among firms in an industry.

National CineMedia

A cinema advertising company that operates in the United States, providing in-theatre advertising and promotional products.