User Account

All Pages

Assume mander decided adopt the conventional retail method

Assignment Help Accounting Basics
Reference no: EM131117589

Conventional Retail and Dollar-Value LIFO Retail Mander Corporation began operations on January 1, 2010, with a beginning inventory of $34,300 at cost and $50,000 at retail. The following information relates to 2010.

(a) Assume Mander decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet.

(b) Assume instead that Mander decides to adopt the dollar-value LIFO retail method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balance sheet.

(c) On the basis of the information in part (b), compute cost of goods sold. 

291_11-B-A-V-I (137).PNG

Reference no: EM131117589

Questions Cloud

What pattern is evident : The linear version performs N iterations. What pattern is evident? Can you give a combinatoric explanation of this phenomenon?
Insurance office involves telephone conversations : A job in an insurance office involves telephone conversations with policyholders. The office manager estimates that about half of the employee"s time is spent on the telephone.
What is snoopy total monthly outlay : Snoopy borrows $7300 at 9.2% nominal convertible monthly to pay for his new super-deluxe doghouse. To pay off the loan, he agrees to make monthly interest payments on the loan, and he also will make equal monthly deposits into a sinking fund account ..
What is the drawback of banker''s algorithm : What is the drawback of banker's algorithm?
Assume mander decided adopt the conventional retail method : Assume Mander decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet.
The bonita full-service car wash : BYP8-3 Construction on the Bonita Full-Service Car Wash is nearing completion. The owner is Dave Kear, a retired accounting professor. The car wash is strategically located on a busy street that separates an affluent suburban community from a midd..
What is the nominal rate of interest convertible monthly : David makes a sequence of 38 monthly deposits of $450 each into an account paying interest convertible monthly. Immediately after making the 38th deposit, the account balance is $18870.45 dollars. What is the nominal rate of interest convertible mont..
Quarterly dividend paid yesterday : Compute the value of XYZ corporation if the quarterly dividend paid yesterday was $0.20 and the annual growth rate is a constant 12%. XYZ Corp reports a cost of equity of 22%.
Discuss what the groups involved hoped to achieve : Your document should have 750-1,000 words (not including the list of works cited), but it is the quality of the answer that matters, not the number of words. Cite and reference all sources use the Harvard Liverpool Referencing System.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd