Contents. 1  adjective (5) first class (1) first class (2) first class (3) first class (4) first class (5) 2  adverb (2) first class (1) first class (2) 3  noun (3) first class (1) first class (2) first class 4  (3) British. 5  American. Business.
Simplified Acquisition Threshold (SAT): $150,000 for non-commercial purchases. 1. Micro-Purchase: Purchases which do not exceed the Micro-Purchase threshold. Micro-Purchase Threshold: 2. $3,000 for Supplies: $2,500 for Services. $2,000 for Construction . 1Note: SAPs awarded in Micro-purchase to $150K range are reserved for Small Businesses
Using the weighted average cost method, our closing inventory amounts to $1,059. This equates to a cost of $1.06 per lollypop ($1,059/1,000 lollypops). Oddly enough, the LIFO method is the preferred inventory valuation method in the United States but is disallowed in non-US countries.The FIFO method and the weighted average cost method are used in non-US countries.In recent years there have been calls for the standardization of accounting rules throughout the world, and talk specifically about disallowing LIFO in the US (or making the rest of the world follow the LIFO system).. This method assumes that the last inventories bought are the first ones to be sold, and that inventories bought first are sold last. The value of our closing inventories in this example would be calculated as follows: Using the Last-In-First-Out method, our closing inventory comes to $1,000.