Which financial statement do you think is prepared by Trekking Company? What is Specific Identification, FIFO, LIFO, or Weighted Average? Explain
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Q1. Keenly observe the figure given and give you opinion on the information by answering the questions below.
- Which financial statement do you think is prepared by Trekking Company? What is Specific Identification, FIFO, LIFO, or Weighted Average? Explain
- Explain in your own words the process of these methods with a numerical example for each.
- Assume that you are the manager of the company mentioned in the figure
above which cost method would you prefer, support your answer.
Al Smirat, Belal Yousef (2016). “Cash Management Practices and Financial Performance of Small and Medium Enterprises (SMEs) in Jordan”. Research Journal of Finance and Accounting, Vol. 7, No. 2.
A. Explain the issues mentioned in the abstract which the author would like to explore on.
B. Assume that you are the cash manager of such Enterprises, how would you support them with cash management practices for better financial performance of SMEs.
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