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An arson destroyed inventory in company warehouse and is in the process of filing a claim with ins co. for inventory loss due to fire given beg inventory 300,500purchases through 9/30 500,250Net sales revenue through 9/30 875,200
Mark-up on cost: 50% Estimate the value of the inventory destroyed in the fire using the gross margin method.The coursepack supplies the answer but I am unable to solve for the correct answer.
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Sigfried Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable. Prepare the journal entry to record the proceeds of the note.
In its first month of operations, Quirk Company made three purchases of merchandise in the following sequence: (1) 328 units at $7, (2) 438 units at $8, and (3) 219 units at $9. Assuming there are 394 units on hand, compute the cost of the ending ..
asher corporation incurred the following manufacturing costs this period direct labor 912000 direct materials 782000
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Lowell Company's December 31, 2012, trial balance includes the following accounts: Inventories $120,000; Buildings $207,000; Accumulated Depreciation-Equipment $19,000; Equipment $190,000; Land Held for Investment $46,000; Accumulated Depreciation..
Refinement and standardization of financial statements and Why is the distinction important in evaluating the regulation question
on december 31 2009 husrton inc. borrowed 3000000 at 12payable annually to finance the construction of a new building.
the contribution margin ratio is 25 for grain company and the break-even point in sales is 194800. to obtain a target
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