Assuming that periodic inventory system

Assignment Help Financial Accounting

Reference no: EM131213294

Romanoff Industries had the following inventory transactions occur during 2015: Units Cost/unit 2/1/15 Purchase 54 $45 3/14/15 Purchase 93 $47 5/1/15 Purchase 66 $49 The company sold 150 units at $70 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s after-tax income using LIFO? (rounded to whole dollars)

Reference no: EM131213294

Questions Cloud

Calculate the lengths of the stubs : At the required frequency, the section is 0.3λ and two stubs are made of the same line. Calculate the lengths of the stubs, if the antenna is connected at A-A.

Why is it important that prices are flexible in the economy : Why is it important that prices are flexible in the economy? Do you think government should be involved in manipulating prices?

List dash diet dinner recipes to lower blood pressure : List 6 Dash diet dinner recipes to lower blood pressure and cholesterol level for a 68 years old African American woman who has total cholesterol of 320, LDL of 200 and HDL of 28. Includes Nutritional Facts for each recipes and rational for eating..

What is a financial system : What is a financial system and why would a country with a well developed and fully functional financial system be better off than a country without it?

Assuming that periodic inventory system : Romanoff Industries had the following inventory transactions occur during 2015: Units Cost/unit 2/1/15 Purchase 54 $45 3/14/15 Purchase 93 $47 5/1/15 Purchase 66 $49 The company sold 150 units at $70 each and has a tax rate of 30%. Assuming that a pe..

Calculate own price elasticity when price : The demand for good X has been estimated by QXd =12 - 3PX + 4PY. Suppose that good X sells at $2 per unit and good Y sells for $1 per unit. Calculate the own price elasticity when the price of X increases to $3.

What is the characteristic impedance of the matching section : Application: λ/4 transformer. Show that two lines with any characteristic (real) impedances Z1 and Z2 may be matched with a quarter-wavelength line. What is the characteristic impedance of the matching section?

Enterprise fund to record the transactions : Record the journal entries needed in an Enterprise Fund to record the following transactions. Include any adjusting entries required. Paid the $8,000,000 into an irrevocable trust to defease in substance the previously outstanding bonds payable of th..

Compare australia and china growth rates : 1) Compare Australia and China growth rates over the period of last ten years (2005 - 2015) in about 300 words 2) Critically analyze the reasons for the variation of growth rates in each country over that time period about 1200 words e.g. mining bo..

User Account

All Pages