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*** At list 3 pages *** cover page not count *** not much soace between line How does Risk information change depending on different decision-makers? Describe one scenario and explain how different decision-makers (e.g., a facility manager, a governor, a public health official, or a federal infrastructure protection official, etc.) would have different needs for inputs and outputs. Discuss who "owns" risk associated with critical infrastructure nationally, regionally, or locally. Discuss the same issue in the cyber world. What are some of the key roles and responsibilities of government, industry, academia, and other non-governmental organizations with respect to critical infrastructure risk? ...

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APPLY THE CONCEPTS: LIFO inventory calculation Click here to review an illustrated example of the LIFO calculation. The steps illustrated in the example are recapped below. 1. Start with beginning inventory. 2. Add inventory layers as purchases are made. 3. Compute the cost of merchandise sold as sales occur. Use only the cost of merchandise available for sale as of the sales date. 4. Update the inventory balance after each transaction. (Be sure you do not use an amount more than once.) 5. Determine the ending inventory for the period. Below is the data for the month of January, 2011. 1/1 Beg. Inv. 150 Units @ $10 1/8 Purchase 120 Units @ $12 1/14 Sale 84 Units 1/22 Purchase 100 Units @ $8 1/25 Sale 124 Units Compute the LIFO layers amounts for the cost of merchandise available for sale after each purchase and sale. After 1/8 Purchase Layer 1 [removed] units $ [removed] price per unit $ [removed] value of the layer Layer 2 [removed] units $ [removed] price per unit $ [removed] value of the layer After 1/14 Sale Layer 1 [removed] units $ [removed] price per unit $ [removed] value of the layer Layer 2 [removed] units $ [removed] price per unit $ [removed] value of the layer After 1/22 Purchase Layer 1 [removed] units $ [removed] price per unit $ [removed] value of the layer Layer 2 [removed] units $ [removed] price per unit $ [removed] value of the layer Layer 3 [removed] units $ [removed] price per unit $ [removed] value of the layer After 1/25 Sale Layer 1 [removed] units $ [removed] price per unit $ [removed] value of the layer Layer 2 [removed] units $ [removed] price per unit $ [removed] value of the layer Based on your answers above, complete the worksheet below. LIFO Inventory Worksheet Transaction Purchases Cost of Merchandise Sold Inventory balance 1/1 Beg. Inv. 150 Units @ $10 $1,500 1/8 Purchase 120 Units @ $12 $ [removed] $ [removed] 1/14 Sale 84 Units $ [removed] $ [removed] 1/22 Purchase 100 Units @ $8 $ [removed] $ [removed] 1/25 Sale 124 Units $ [removed] $ [removed] Total $ [removed] $ [removed] $ [removed] Hide APPLY THE CONCEPTS: Recording changes in inventory under LIFO valuation Under the perpetual system, two journal entries are are required to record sales; one to record the sale and one to record the cost of merchandise sold. Click on the links below to review the journal entries for purchases and sales transactions. Purchase Sales After a purchase or sale occurs, the transaction must be recorded or journalized. In the following journal, record the purchases and sales for the month, assuming that all inventory purchases were made with cash and all sales were made on account at a fixed unit price of $22 per unit. Several facts to remember: (1) All inventory purchases are made with cash and cash only; (2) All sales are made on account and on account only; and (3) when recording sales, Schiphol wants .

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