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Question - Hull Company reported the following income statement information for the current year:
Sales $415,000
Cost of goods sold:
Beginning inventory $139,500
Cost of goods purchased 278,000
Cost of goods available for sale 417,500
Ending inventory 149,000
Cost of goods sold 268,500
Gross profit $146,500
The beginning inventory balance is correct. However, the ending inventory figure was overstated by $25,000. Determine the correct gross profit?
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: - Explain the goals and uses of special journals.
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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.
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