User Account

All Pages

What would the ending inventory

Assignment Help Accounting Basics
Reference no: EM132431329

Question - Presented below is information related to Tamarisk Corporation for the current year.

Beginning inventory $ 611,900

Purchases 1,527,700

Total goods available for sale $2,139,600

Sales revenue 2,600,000

What would the ending inventory, assuming that (a) gross profit is 49% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost.

Reference no: EM132431329

Questions Cloud

Determine the amount of overhead cost : Determine the amount of overhead cost that would be assigned to each product using activity-based costing.
Why the average cost of producing a commodity : Examine the factors which explain why the average cost of producing a commodity declines with an expansion in the scale of production
Find the avc and mc for the level : Find the AVC and MC for the level of output at which the AVC curve is minimum
Prepare a material usage budget for tintel and pintel : SMMAR Limited manufactures and sells two products, Tintel and Pintel. The Company has determined that it will make 2,100 units of Tintel and 2,950 units of Pint
What would the ending inventory : What would the ending inventory, assuming that (a) gross profit is 49% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales
Gain or loss on the retirement of the bonds : On March 31, 2014, Bundy Corporation retired $10,000,000 of bonds, which have a liability balance on March 31, 2014 of 10,500,000, by paying bondholders
Unexpected events with organization : How do leadership monitors routine activity and reacts to unexpected events with their organization? How would you organize the business?
What is the amount of the loss as a result of the fire : Merchandise with a selling price of $18,900 remained undamaged after the fire. What is the amount of the loss as a result of the fire
Implementing electronic systems : Fast Lane is considering implementing electronic systems for transacting with suppliers. Outline some advantages that might accrue

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the markup percentage on total cost

In addition, total cost of $25 is made up of $14 variable cost and $11 fixed cost. The desired profit is $5 per unit. Determine markup percentage on total cost

  How much deferred income tax liability the company recognize

Assume tax rates of 40% in Year 1 and 50% in all other years. How much deferred income tax liability should the company recognize at the end of Year 1

  Compute the correct final balance of inventory

Inventory items with a cost of $3,720 were excluded from ending inventory. Using the information given above, compute the correct final balance of Inventory

  Discuss the behavioral issues involved in standard cost

Problem - Behavioral Effect of Standard Costs. Discuss the behavioral issues involved in Merit Inc.'s standard cost dilemma

  Partnerhip items for tax year

The partnership paid gauranteed payments to Simone of $1000 and $2000 per month during the fiscal years ended September 30, 2010 and 2011. How much will Simone's adjusted gross income be increased by these partnerhip items for her tax year ended D..

  How will you behave when posed with an ethical decision

How do corporate executives justify actions that appear to be clearly unethical? How will you behave when posed with an ethical decision

  The following selected account balances were taken from abc

the following selected account balances were taken from abc companys general ledger at january 1 2011and december 31

  Zodiac company has decided to introduce a new product which

zodiac company has decided to introduce a new product which can be manufactured by either a computer-assisted

  Explain what is correct closing entry for expense accounts

The Retained Earnings account has credit balance of $40,000 before closing entries are made. Explain what is the correct closing entry for the expense accounts?

  Write a comparative analysis about activities us gaap

Write a One page Comparative Analysis about (Successful-Efforts, Full Cost, & IFRS) Project One page Significant Differences about: Activities US GAAP.

  Answer the following on 8 12x 11 paper be succinct try to

answer the following on 8 12x 11 paper. be succinct. try to give examples. label each question by number and make sure

  Derive the net benefits table

Consider three residents A, B and C receiving benefits from installing 0-3 street lights as shown in the following table. Derive the net benefits table

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