Homework Answers
Inventory is reported at the lower of cost or market value
Since each item is analysed separately, Inventory will be reported at 4300+6550+6500+4150+8300+9200
= $39,000
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You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,850 $5,350 B 7,200 6,500 С 6,900 6,900 D 4,350 4,650 E 8,400 9,000 F 9,450 9,200 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B С D E 1 2 Inventory = 3...
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item 1 M arket Value $4,300 $5,350 7,400 6,100 с | 6,800 6,800 D 4.450 4,950 8,250 8,900 9,500 8,900 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B I c I o I 3 Inventory = 10
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,650 $5,500 7. 200 6 6,450 .1990 6.100 6.100 D 4.350 5,000 8,100 9,300 9,250 8,600 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: .... B ..... Inventory
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value $4,650 $5,500 B 7200 6.550 C 6,100 6.100 D 4 ,100 5,000 8,050 9,400 F 1 9 .400 9,050 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: 3 Inventory
Check my work points You are reviewing the records for you business and the accounting department...
Check my work points You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,100 $5,350 B 7150 6.100 6.500 6.500 4,300 4,700 8,600 9,200 F 9,450 8,500 eBook When the financial statements are prepared and assuring the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: Print A B C D References 3 Inventory
You are reviewing the records for you business and the accounting department has given you the...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,700 $5,350 B 7,000 6,100 C 6,600 6,600 D 4,100 4,600 E 8,100 9,300 F. 9,350 8,850 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be:
Check my work mode : This shows what is correct or incorrect for the work you...
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value А $4,250 $5,350 B 7,250 6,000 С 6,900 6,900 D 4,350 4,750 E 8,500 9,000 F 9,350 8,700 When the financial statements are prepared and assuming the accounting department...
The accounting department of your company has just delivered a draft of the current year's financial...
The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summary is as follows: Beginning of the Year End of the Year Total Assets $550.000 $628.000 Total Liabilities 210,000 209,000 Total Equity 340,000 419,000 Net Income for the Year 105,600 Common Shares Outstanding 21,000 21,000 You discovered that they have not adjusted for estimated bad debt expenses of $7,200. For each of the following ratios, calculate: 1. The ratio that...
H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year....
H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory information about the five major items stocked for regular sale follows: Quantity on Hand ENDING INVENTORY, CURRENT YEAR Net Realizable Unit Cost When Value (Market) Acquired (FIFO) at Year-End $ 23 $ 20 48 Item 58 60 18 78 358 LO Required: Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable...
The cost accounting department has asked you to check their EoQ figures. You have been given...
The cost accounting department has asked you to check their EoQ figures. You have been given the following data: demand is 16,728 units per quarter, S = $120 per setup, P = $5 per unit, and I = 25% per unit per year, 600-3,017 units. Calculate total annual inventory costs including setup, holding and product cost. Excel Access QUESTION 33 The graph below plots two different types of cost as a function of the order quantity in the EOQ model....
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,850 $5,350 B 7,200 6,500 С 6,900 6,900 D 4,350 4,650 E 8,400 9,000 F 9,450 9,200 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B С D E 1 2 Inventory = 3...
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item 1 M arket Value $4,300 $5,350 7,400 6,100 с | 6,800 6,800 D 4.450 4,950 8,250 8,900 9,500 8,900 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: A B I c I o I 3 Inventory = 10
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,650 $5,500 7. 200 6 6,450 .1990 6.100 6.100 D 4.350 5,000 8,100 9,300 9,250 8,600 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: .... B ..... Inventory
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value $4,650 $5,500 B 7200 6.550 C 6,100 6.100 D 4 ,100 5,000 8,050 9,400 F 1 9 .400 9,050 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: 3 Inventory
Check my work points You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value $4,100 $5,350 B 7150 6.100 6.500 6.500 4,300 4,700 8,600 9,200 F 9,450 8,500 eBook When the financial statements are prepared and assuring the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be: Print A B C D References 3 Inventory
You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of Item Market Value A $4,700 $5,350 B 7,000 6,100 C 6,600 6,600 D 4,100 4,600 E 8,100 9,300 F. 9,350 8,850 When the financial statements are prepared and assuming the accounting department analyzes each item separately, the amount presented on the balance sheet in Inventory will be:
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com You are reviewing the records for you business and the accounting department has given you the following inventory schedule. Inventory Item Cost of item Market Value А $4,250 $5,350 B 7,250 6,000 С 6,900 6,900 D 4,350 4,750 E 8,500 9,000 F 9,350 8,700 When the financial statements are prepared and assuming the accounting department...
The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summary is as follows: Beginning of the Year End of the Year Total Assets $550.000 $628.000 Total Liabilities 210,000 209,000 Total Equity 340,000 419,000 Net Income for the Year 105,600 Common Shares Outstanding 21,000 21,000 You discovered that they have not adjusted for estimated bad debt expenses of $7,200. For each of the following ratios, calculate: 1. The ratio that...
H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory information about the five major items stocked for regular sale follows: Quantity on Hand ENDING INVENTORY, CURRENT YEAR Net Realizable Unit Cost When Value (Market) Acquired (FIFO) at Year-End $ 23 $ 20 48 Item 58 60 18 78 358 LO Required: Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable...
The cost accounting department has asked you to check their EoQ figures. You have been given the following data: demand is 16,728 units per quarter, S = $120 per setup, P = $5 per unit, and I = 25% per unit per year, 600-3,017 units. Calculate total annual inventory costs including setup, holding and product cost. Excel Access QUESTION 33 The graph below plots two different types of cost as a function of the order quantity in the EOQ model....
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