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Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $217,775 and average assets of $1,463,010. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $39,290 more than under FIFO, and its average assets would have been $42,760 less than under FIFO. Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $235,546 and average assets of $1,496,540. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $48,370 more than under FIFO, and its average assets would have been $40,460 less than under FIFO. Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $227,936 and average assets of $1,410,000. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $43,260 more than under FIFO, and its average assets would have been $43,930 less than under FIFO. Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $256,538 and average assets of $1,535,130. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $39,560 more than under FIFO, and its average assets would have been $30,920 less than under FIFO. Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $211,098 and average assets of $1,421,970. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $38,280 more than under FIFO, and its average assets would have been $45,000 less than under FIFO. Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $276,359 and average assets of $1,424,900. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $34,440 more than under FIFO, and its average assets would have been $47,980 less than under FIFO. Required: a. Calculate the firm's Rol under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO Inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $281,376 and average assets of $1,552,240. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $34,420 more than under FIFO, and its average assets would have been $35,810 less than under FIFO. Required: a. Calculate the firm's Rol under each cost flow assumption (FIFO and...
Mannisto Inc. uses the FIFO Inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $200,246 and average assets of $1,465,400. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $42.030 more than under FIFO, and its average assets would have been $39,520 less than under FIFO. Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and...
5 Inventory and Prepaids (10 Points) Saved Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $222,805 and average assets of $1,497,010. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $43,620 more than under FIFO, and its average assets would have been $40,580 less than under FIFO. Required: a. Calculate the firm's ROI...
Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $1,500,000 and average assets of $10,000,000. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $300,000 more than under FIFO , and its average assets would have been $300,000 less than under FIFO. A) Calculate the firm's ROI under each cost flow assumption (FIFO and...