Aampa products is in the process of preparing interm

Assignment Help Accounting Basics

Reference no: EM13581745

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: EM13581745

Questions Cloud

400 service revenue no 631 supplies expense no 633 gasoline : heidi jara opened jaras cleaning service on july 1 2015. during july the following transactions were completed. july 1

List combustion factors affecting voc emissions explain : list combustion factors affecting voc emissions. explain your answers.pick one of the available alternatives to

Murray company purchased 26800 in direct materials from : murray company purchased 26800 in direct materials from bartunek company terms 210 n30. prepare the journal entry to

The poisson distribution can be a reasonable approximation : answer each question with a minimum of 40 words per question1the poisson distribution can be a reasonable approximation

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

As of december 31 2009 valley company has 16920 cash in its : as of december 31 2009 valley company has 16920 cash in its checking account as well as several other items listed

How many social robots would need to be sampled in order to : how many social robots would need to be sampled in order to estimate the proportion ofrobots designed with legs no

Employees at the hobby hut requested that the company : employees at the hobby hut requested that the company provide assistance in locating professional- quality child care

When the tennis ballhits the ground the ping-pong ball : it is your turn to keep the younger members of the family amused for half an hourwhile everyone else prepares the

User Account

All Pages