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The units of an item available for sale during the year were as follows:
Jan. 1 Inventory25 units at $45
Mar. 4 Purchase15 units at $50
June 7 Purchase35 units at $58
Nov. 15 Purchase20 units at $65
?Problem 1: There are 30 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using FIFO.
On March 10, 2002, the supplies fund notified the city that it owned $1,500 for supplies used that cost $1,200. The supplies fund also notified the city's water utility fund that it owed $3,400 for supplies used that cost $2,700. What are the general..
Calculate the amount that MNC expects to receive on December 1 if MNC's policy is to hedge foreign currency transactions. Briefly discuss implications.
you have been assigned to evaluate the stock market performance of firms who manufacture accounting software products.
What should be the net book value on 31 December 20X1, if the salvage value is $3,000 and useful life is 10 years and the company uses declining balance method
Calculate the amount of goodwill / bargain on purchase that would be recorded in the books of Sacura Ltd following the acquisition of Vendetta Ltd
A manufacturing company allows employees to purchase, at cost, manufacturing materials such as metal and lumber, for personal use. Discuss if the assistant cost accountant behaved in an ethical way.
How much interest will Longitude report on its income statement for the year ending December 31?
Martinez Company’s relevant range of production is 10,100 units to 15,100 units. When it produces and sells 12,600 units, its unit costs are as follows: Amount Per Unit Direct materials $ 5.90 Direct labor $ 3.40 Variable manufacturing overhead $ 1.6..
Harrison Forklift's pension expense includes a service cost of $27 million. Harrison began the year with a pension liability of $47 million (underfunded pension plan).
Compute the after-tax cost of debt. Ignore flotation costs. The bond is priced to sell at 88.14. The tax rate is 40%. The maturity of a bond is 12 years
If ABC pays the invoice on the seventeenth day, what is the effect on the Cash account and will the Cash account be debited or credited?
Hanson had buildings with a book value of $1,878,000 and a fair value of $2,160,000. What amount should be shown for buildings on the consolidated balance sheet dated December 31, 2011? 106.
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