Solution-Estimate the cost of the inventory destroyed

Estimate the cost of the inventory destroyed

Assignment Help Managerial Accounting

Reference no: EM13905158

1. Kauai Store's inventory is destroyed by a fire on September 5, 2013. The following data for year 2013 are available from the accounting records. Estimate the cost of the inventory destroyed.

Jan. 1 inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 190,000
Jan. 1 through Sept. 5 purchases (net) . . . . . . . . . $ 352,000
Jan. 1 through Sept. 5 sales (net) . . . . . . . . . . . . . $ 685,000
Year 2013 estimated gross profit rate . . . . . . . . . 44%

Reference no: EM13905158

Questions Cloud

What is the p-value : Fry Brothers heating and Air Conditioning, Inc. employs Larry Clark and George Murnen to make service calls to repair furnaces and air conditioning units in homes

What is pressure in a 200 feet column of water : What is pressure in a 200 feet column of water and How much is the pipe grade length if 92 feet pipe is graded at 1/8 per foot?

Show the given situation on an s - r diagram : You may invest in any one, or in any combination of them. The mean rate of return r is the same for each asset, but the variances are different. Show the situation on an s - r diagram. Describe the efficient set.

Must the contract be in writing to be enforceable : ABC company hired Andrew as its research director. The terms of the employment contract is five years. As ABC knows at the moment of signing, Andrew is terminally ill when the contract is created, and is not expected to live more than nine months. Mu..

Estimate the cost of the inventory destroyed : 1. Kauai Store's inventory is destroyed by a fire on September 5, 2013. The following data for year 2013 are available from the accounting records. Estimate the cost of the inventory destroyed.

Depreciation method and internal controls : What is Honda Motor Co., Ltd overarching accounting principles; i.e., revenue recognition method, depreciation method and internal controls?

Find the flow rate and head delivered by the pump : This pump is used to pump water from one reservoir to another through a pipe of length 125 m, diameter 40 cm, and friction factor 0.0054. The difference in height of the water levels in the reservoirs is 20 m. Neglecting separation losses, Find th..

Optimal combination of products to get the maximum profit : The company manufactures two types of product A and B made of plastic. The company received 3,000 lbs recycled plastic of product A and 10,800 lbs recycled plastic of product B. The company also receives industrial plastic of 24,000 lbs per month. De..

Label the variables as independent-dependent-intervening : The manager of Haines Company observes that the morale of employees in her company is low. She thinks that if their working conditions are improved, pay scales raised, and the vacation benefits made attractive, the morale will be boosted. List and la..

User Account

All Pages

Estimate the cost of the inventory destroyed

Reference no: EM13905158

Reference no: EM13905158

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT