QV-TV, Inc. provided the following items in its notes to the financial statements for the year-end 2019: Cost of goods sold was $22.40 billion under FIFO costing and the inventory value under FIFO costing was $2.18 billion. The LIFO Reserve for year-end 2018 was $0.64 billion and at year-end 2019 it had increased to $0.84 billion. How much is the 2019 LIFO cost of goods sold?

What part of the rational model of decision-making does the former business executive “elliott” have a problem completing?

"jake’s roof repair has provided the following data concerning its costs: fixed cost per month cost per repair-hour wages and salaries $ 20,900 $ 15.00 parts and supplies $ 7.70 equipment depreciation $ 2,800 $ 0.35 truck operating expenses $ 5,720 $ 1.60 rent $ 4,690 administrative expenses $ 3,850 $ 0.50 for example, wages and salaries should be $20,900 plus $15.00 per repair-hour. the company expected to work 2,600 repair-hours in may, but actually worked 2,500 repair-hours. the company expects its sales to be $47.00 per repair-hour. required: compute the company’s activity variances for may."

Which of the statements is true about the values recorded in the balance sheet of a firm?