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april 1 inventory balance 120 units @ 8.04 each april 10 purchase 200 units @ 8.20 each april 20 purchase 410 units @ 8.40 each april 22 sale 630 units @ 15.00 each april 25 purchase 310 units @ 8.59 each compute the value of ending inventory under LIFO? and compute the value of ending inventory under FIFO? and, which inventory costing method results in the largest cost of goods sold.
Provide examples of resources that are temporarily restricted as to: (a) purpose; (b) time; and (c) the occurrence of a specific event. Provide an example of permanently restricted resources.
Gift tax returns were filed reporting these gifts. How much of her estate is subject to federal estate tax after considering the estate tax exemption?
You are the Chief Accounting Officer of Dream Job Corporation and have been asked for your expert opinion on the following future transaction.
Basis of Inherited Property. The basis of property acquired from a decedent is generally fair market value at date of death. What are the two exceptions to this rule ( do not include property subject to special-use valuation)?
Net income = 400 , net opening profit after taxes (NOPAT) = 600 , total asset = 2000 and total net operating capital =1800 . the information for the current year is : net income = 900 , net operating profit after taxes (NOPAT)= 800, total assets =..
Partners bob and don have agreed to share profits and losses in an 80:20 ratio respectively, after bob is allowed a salary allowance of $140,000 and don is allowed a salary allowance of $70,000. if the partnership had net income of $140,000 for 20..
Lance Brothers Enterprises acquired $750,000 of 1% bonds, dated July 1, on July 1, 2011, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity.
Rossiter Company failed to record a credit sale at the end of the year, although the reduction in finished goods inventories was correctly recorded when the goods were shipped to the customer. Which one of the following statements is correct?
What is the net change in the budget of prevention costs if the procedures are automated in 2010? Will management agree with the changes?
Prepare new income statements for the firms assuming each sells one unit less (i.e. each firm sells 9 units)
How would you predict that the short-run equilibrium that you have identified in question 1 will change? Illustrate your answer using appropriate diagrams. What will be the long-run equilibrium number of fishing rod manufacturers?
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