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The accounting records of Kingbird Electronics show the following data.
Beginning inventory 2,000 units at $5
Purchases 8,000 units at $7
Sales 9,400 units at $10
Problem 1: Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.)
Problem 2: Determine cost of goods sold during the period under a periodic inventory system using the LIFO method. (Round answer to 0 decimal places, e.g. 1,250.)
Problem 3: Determine cost of goods sold during the period under a periodic inventory system using the average-cost method. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answer to 0 decimal places, e.g. 1,250.)
Each year the machine is kept, the salvage value would decrease by $3500. What is the optimal economic life and associated EAC of this equipment?
question 1 on september 1 roshek office supply had an inventory of 31 calculators at a cost of 17 each. the company
Recording four adjusting journal entries and preparing an adjusted trial balance: Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31, 2013. To simplify, the amounts are in..
This is expected to result in additional cash flows of $ 1, 210,000 million over the next 7 years. What is the payback period for this project?
Duiker Corporation has a joint process that produces three product: A, S and B. Each product may be sold at split-off or processed further and then sold. Joint-processing costs for the year amount to $30,000. Other data follows: PRODUCT SALES VALUE A..
Mercier Corporation's stock is selling for $95. How important are investors' expectations on future dividend growth to the current stock price and why?
Title - The different sources a company can use to raise its funds and different classifications of entities for reporting purposes
Do you think that other types of organizations should have an act similar to the Sarbanes-Oxley Act? Why or why not? Should the government, nonprofits, and private companies be held to the same or similar standards? Or is it too costly and time-consu..
$48,000 for direct materials .total fixed costs are $23,000 at 10,000 units of production a flexible budget would show variable costs:? fixed costs:?
Compute Kroger's inventory turnovers for fiscal years ending January 31, 2015, and February 1, 2014, using: Cost of sales and LIFO inventory. and Cost of sales and FIFO inventory.
If the new business is expected to earn $72,000 of after-tax net income in the first year, what rate of return on beginning equity will Kelly earn under each alternative plan? Which plan will provided the higher expected return?
Evaluate a few ratios and compare Reed's results with industry averages. (Some industry averages are shown in Exhibit.) What do these ratios indicate?
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