What amount should swifty report as its december 31

Assignment Help Financial Management
Reference no: EM132367985

Question :

Swifty Company took a physical inventory on December 31 and determined that goods costing $170,000 were on hand. Not included in the physical count were $20,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $18,000 of goods sold to Alvarez Company for $26,000 FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Swifty report as its December 31 inventory?

Reference no: EM132367985

Questions Cloud

Provide a link to the financial statements : Be sure to provide a link to the financial statements. You must use the annual report, from the H &R Block website, or from the SEC database.
Determine the correct inventory amount on december 31 : Tri-State Bank and Trust is considering giving Waterway Company a loan. Before doing so, management decides that further discussions with Waterway.
Discuss the merits of performance appraisal : Discuss the merits of performance appraisal. Cite true life examples in which performance reviews helped or hurt job performance.
Face regarding the future of public leadership : Predict two challenges that public leaders will face regarding the future of public leadership.
What amount should swifty report as its december 31 : Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Swifty report as its December 31 inventory?
What is the value of the mean : The standard deviation of a normal distribution is 12 and 95% of the values are greater than 6. What is the value of the mean?
Project has an initial requirement : The annual operating cash flow is $88,153 and the cost of capital is 6% What is the project's NPV if the tax rate is 31%?
Compute for each year the average collection period : Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $455,000.Compute for each year average collection period.
Manage the network then implement the architecture : CSC73002 Network Management Assignment - Network Performance Management and Troubleshooting Exercise, Southern Cross University, Australia

Reviews

Write a Review

Financial Management Questions & Answers

  Stock prices reflect the present value of future dividends

Some people think that stock prices reflect the present value of future dividends. Does this approach make sense?

  Required return on the project-pretax cost savings

Your firm is contemplating the purchase of a new $759,500 computer-based order entry system. The system will be depreciated straight-line to zero over its seven-year life. It will be worth $49,000 at the end of that time. Suppose your required return..

  Identifying risk and applying risk management processes

Identifying risk and applying risk management processes - Conduct a risk analysis and risk evaluation for the risks you have identified

  Investor be indifferent between these two bonds

What tax rate would an investor be indifferent between these two bonds? which bond should an investor in the 30% tax bracket invest in?

  What is the price of option if it is an american call

What is the price of the option if it is European call? What is the price of option if it is an American call?

  Would any individual business be willing to install

Would any individual business be willing to install the lighting system (and pay for it) by itself? Please explain why yes/not - What the results

  Currency risk management techniques include forward hedges

Currency risk management techniques include forward hedges, money market hedges, etc.

  What type of stock has corporation issued and outstanding

What type of stock has the corporation issued and has outstanding (sold) and how many shares of each type?

  What is the net present value of this new opportunity

What is the Net Present Value (NPV) of this new opportunity? Should this opportunity be pursued? Why or why not?

  Calculate the time zero cash flow for this project

Pappy’s paid $130,000 for a marketing survey to determine the viability of the product. Calculate the Time 0 cash flow for this project.

  The firm reduced its net working capital investment

The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $5.8 million, and the 2015 balance sheet showed long-term debt of $6 million. The 2015 income statement showed an interest expense of $195,000. Suppose you also know th..

  What would be the borrower before-tax yield on equity

Would the lender be likely to make the loan to the borrow? What would be the borrower's before-tax yield on equity?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd