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Problem 1. The equation for cost of goods available for sale?
a. Beginning Inventory-Purchases + Purchase Returns-Purchase Discounts+ Freight-in Charges.
b. Beginning Inventory +Purchases - Purchase Returns-Purchase Discounts+ Freight-in Charges.
c. Beginning Inventory+Purchase-Purchase Returns-Purchase Discounts+ Freight-in Charges- Fright-out-charges-Ending Inventory.
d. Beginning Inventory +Purchase-Purchase Returns-Purchase Discounts+ Freight-in Charges-Ending Inventory.
Problem 2. Which of the following companies are likely to use the specific identification method to value its inventory?
Jewelry Retailer Oil Refinery Car Manufacturing
a. No No Yes
b. Yes No Yes
c. Yes Yes No
d. No No No
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Compute the margin of safety ratio for current operations and after Mary's changes are introduced (Round to nearest full percent).
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sifton electronics corporation manufactures and assembles electronic motor drives for video cameras. the company
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Farmer Corporation borrowed $280,000 on November 1, 2009. The note carried a 10 percent interest rate with the principal and interest payable on June 1, 2010. Prepare the journal entry to record the note on November. Prepare the adjusting entry to..
Acceptance of Low Bid The Velasquez Company, a maker of a variety of metal and plastic products, is in the midst of a business downturn and is saddled.
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