Aampa products is in the process of preparing interm

Reference no: EM13581566

A&A products is in the process of preparing interm financial statements. Since they take physical on an annual basis they use the Retail Inventory Method to estimate inventory. Fortunately, A&A products keeps very detailed inventory records at both cost and retail. The following information for Corrugated boxes as of the end of the third quarter, 2012 is provided.

Cost. Retail

beginning inventory 92,000 167,000

purchases 220,000. 435,000

purchase discounts. 3,000

Purchase returns 8,000

markups 10,000

markup cancellation 25,000

markdowns 5000

employee discounts 9,000

Sales 430,000

* using the retail inventory method calculate ending inventory at costs for the third quarter of 2012

Reference no: EM13581566

Questions Cloud

Ann terrell invests 1497380 now for a series of 2000 annual : ann terrell invests 14973.80 now for a series of 2000 annual returns payments beginning one year from now. ann will

Pampp products implemented dollar value lifo inventory : pampp products implemented dollar value lifo inventory valuation in 2009 when their ending inventory was 650000. the

The norman company has just signed a capital lease : the norman company has just signed a capital lease contract for equipment that requires annual lease payments of 5000

Suppose you have a winning sweepstakes ticket and you are : suppose you have a winning sweepstakes ticket and you are given the option of accepting 250000 three years from now or

Aampa products is in the process of preparing interm : aampa products is in the process of preparing interm financial statements. since they take physical on an annual basis

Wisconsin warning co plans to finance its operations by : wisconsin warning co. plans to finance its operations by issuing 5000000 of 5 year 12 bonds with interest payable

In the past the abc company allocated indirect : in the past the abc company allocated indirect manufacturing costs based on direct labour hours. recently management

The manager of healthy snack division of mulchan industries : the manager of healthy snack division of mulchan industries is evaluated on her divisions return on investment and

Aretha has an agi of less than 100000 and a 25 percent : aretha has an agi of less than 100000 and a 25 percent marginal tax rate. during the year she reports a 36000 loss from

User Account

All Pages