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**** need help need discussion question done by 7am EST***** The video clip ‘The Baloney Detection Kit’ in the Webtext this week discusses the many ways in which an effective critical thinker assesses the claims made by others. Explain what you believe is the real difference between ‘science’ and ‘pseudoscience’. Examine the key reasons why so many people might seem to be attracted to more pseudoscience-type claims. Describe at least two (2) such claims that you have heard people make, and analyze the main reasons why such claims do or do not meet rigorous scientific methodology standards. Determine at least two (2) ways in which the material discussed this week has changed your own thinking. ...

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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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need help need discussion question done by 7am EST