User Account

All Pages

What would be the estimated cost of the ending inventory

Assignment Help Accounting Basics
Reference no: EM132903350

The aldrin Merchandising Co. uses the retail inventory method. Information relating to the computation of the inventory at December 31,2021, is as follows:

                                             Cost                  Retail
Inventory, January 1       ?70,000      ?100,000
Purchases                      292,500         400,000
Net markups 75,000
Net markdowns 25,000
Sales 375,000

Problem 1: What would be the estimated cost of the ending inventory using FIFO retail?

a. ?113,750
b. ?118,750
c. ?115,500
d. ?110,250

Reference no: EM132903350

Questions Cloud

Calculate the break-even load factor : You can expect yield per passenger mile to drop about 10% for each month of fare sale. Calculate the break-even load factor if CASM is $0.21
Relationship between government and business : What is lobbying? What role does it play in the relationship between government and business?
Make necessary entries on the part of delima company : Make all necessary entries both on the part of Delima Company and Dayan Company. The Delima Company has borrowed the maximum amount
What is meant by the statement cash is king : Discuss three ways the cash flow statement assists users. 2. Explain what is meant by the statement "Cash is king."
What would be the estimated cost of the ending inventory : The aldrin Merchandising Co. uses the retail inventory method. What would be the estimated cost of the ending inventory using FIFO retail?
What is the cost of goods sold at december : Find What is the cost of goods sold at December 31,2021 using the retail inventory method and the average method of estimation?
What the company should record the raw materials at : On April 30,2022, time of delivery, the company should record the raw materials at? Brenalyn Co. entered into a purchase agreement on March 31,2021
Find the feasible extreme points : Question 1. You are provided with the following linear program: min z = 5x + 6y s.t. - x + 2y = 8 - x + y = -3 7x + 4y = 28 y = 8 x, y = 0
Competition between citibank and other banks : Discuss the competition between Citibank and other Banks. Talk about the future of Citibank

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