Question

"if 9,000 units are on hand at december 31, what is the cost of the ending inventory under fifo using a periodic inventory system"

Answer 1

Access to bank locations for conducting transactions like cash deposit, check cashing, money order and funds transfer may come at high costs in terms of banking fees. Fintech, telecommunication and banking institutions are working hand-in-hand to create mobile payment and microlending facilities for financially underbanked users. Numerous online payment and commerce systems incorporated with cellphones have been built to facilitate the ease with which this underserved population can immerse themselves in the digital economy. Examples of popular apps that have been created to foster financial inclusiveness include China’s AliPay and India’s Paytm Wallet, serving 450 million and 122 million users in 2016, respectively.

Answer 2

Explanation:

When the fifo inventory method is used during periods of rising prices, a perpetual inventory system results in an ending inventory cost that is higher than in a periodic inventory system. lower than in a periodic inventory system. the same as in a periodic inventory system. higher or lower than in a period?