Reference no: EM13933423
Determining the cost of inventory
Required:
For each of the following cases determine the ending balance in the inventory account.
a. Mona's Dress Shop had a beginning balance in its inventory account of $20,000. During the accounting period Mona's purchased $68,000 of inventory, returned $4,000 of inventory, and obtained $640 of purchases discounts. Mona's incurred $1,200 of transportation in cost and $1,600 of transportation out cost. Salaries of sales personnel amounted to $26,500. Administrative expenses amounted to $42,000. Cost of goods sold amounted to $65,800.
b. Ben's Boat Shop had a beginning balance in its inventory account of $8,000. During the accounting period Ben's purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. Sales discounts amounted to $640. Ben's incurred $900 of transportation in cost and $260 of transportation out cost. Selling and administrative cost amounted to $12,300. Cost of goods sold amounted to $33,900.
|
Covered interest rate parity holds
: The current spot exchange rate is 1 USD = 6.40 NOK, and the 90-day forward exchange rate is 1 USD = 6.50 NOK. The 90-day interest rate in Norway is 10%. Suppose that the covered interest rate parity holds. 3 What is the 90-day interest rate in the US..
|
|
Pearl equestrian centre app project
: Pearl Equestrian Centre offers a full service boarding facility geared towards the needs of riders and their equestrian desires. The 100 acre facility is home to multiple trainers and clinicians.
|
|
Is demand for courses elastic or inelastic
: 1. What is the price elasticity of demand for courses at the universities that increases their fees by 30%? 2. Is demand for these courses elastic or inelastic?
|
|
Southern highland specialising in rare breeds
: Flower Angels operates a flower farm in the Southern Highland specialising in rare breeds of David Austin roses. On Monday the company received, by post, an order from a regular customer, a florist shop in the Sydney CBD, requesting that a specifi..
|
|
For each of the following cases determine the ending balance
: For each of the following cases determine the ending balance in the inventory account.
|
|
Business facts on the national account
: Some business facts on the national account Please only turn in the output from part (5)
|
|
What is expected long-run growth rate
: uperwidget Inc. has an equity beta of 1.5. The market risk premium is 6%, and the risk-free rate is 2%. Superwidget has just paid a dividend of $5 per share, and its current market stock price is $106. Superwidget pays regular dividends once a year. ..
|
|
Should the new product be marketed
: A soft drink company wants to test-market a new product in n = 40 randomly selected convenience stores. Should the new product be marketed? Let α = 0.05. What is the p-value for this test?
|
|
Find the first derivative
: Find the first derivative
|