Comnpute inventory turnover for fiscal year 2013 use total

Reference no: EM13389679

1. What is the amount of gross accounts receivable at fiscal year-end 2013?

2. Suppose that write-offs of accounts receivable during fiscal year 2013 amounted to $6K, there were no reinstatements, and all sales during 2013 were on credit.

(a) Prepare the journal entry to record bad debt expense during 2013.

(b) Determine cash collected from customers during 2013.

3. What inventory costing method(s) does Sherwin-Williams use for financial reporting?

4. Calculate inventory turnover for fiscal year 2013 (use total reported inventory).

5. Compute the amount of "Work-in-process and raw materials" transferred to finished goods during 2013.

6. What is the LIFO reserve at fiscal year-end 2013?

7. What method of depreciation does Sherwin-Williams use for its PPE?

8. How much was depreciation expense during 2013?

9. Was any PPE sold during 2013? How do you know?

Reference no: EM13389679

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