User Account

All Pages

What is the ending inventory

Assignment Help Accounting Basics
Reference no: EM132550840

Question - Northwest Fur CO started 2016 with $96000 of merchandise Inventory on hand. During 2016, 410,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discount were taken. Purchases were allowed for shipping point. Northwest paid freight charges of 8000. merchandise with an invoice amount of 4500 was returned for credit. cost of goods solids for the year was $372,000. Northwest uses a perpetual inventory system. What is the ending inventory assuming Northwest uses the gross method to record purchase?

A. 142,000

B. 137,000

C. 129,390

D. 129330

Reference no: EM132550840

Questions Cloud

What is the bonds current price : You are considering the purchase of a $11,000 par value bond with a coupon rate of 6.3% that matures in 12 years. What is the bonds current price
Improve your work for a client-centric approach : Why do you feel this tip is more beneficial than others? If you were working as a consultant how would you implement these tips to improve your work
Discuss laport ltd new accounting policy of revenue : Discuss if LaPort Ltd's new accounting policy of revenue recognition is appropriate. LaPort Ltd is a publicly listed manufacturing company in Australia.
High rate of unemployment : The United States is suffering from a high rate of unemployment.
What is the ending inventory : Northwest uses a perpetual inventory system. What is the ending inventory assuming Northwest uses the gross method to record purchase
How ethical use of various assessments and data guides you : How the ethical use of various assessments and data guides you to identify students' strengths and needs to promote growth. How your assessments will support.
Youth violence in our country : How to improve upon this. Daily tragedies are reported on throughout our country involving school, gang, and domestic violence, all with a similar constant
What would be your bond equivalent yield : Three years ago you purchased a 8% coupon bond that pays semiannual coupon payments for $989. What would be your bond equivalent yield
Different levels of output : How do businesses change their prices at different levels of output, and how does this lead to an upward-sloping aggregate supply curve?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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