Marigold Industries had the following inventory transactions occur during 2018: Units Cost/unit 2/1/18 Purchase 60 $40...
Marigold Industries had the following inventory transactions
occur during 2018:
| Units | Cost/unit | ||
| 2/1/18 | Purchase | 60 | $40 |
| 3/14/18 | Purchase | 96 | $45 |
| 5/1/18 | Purchase | 60 | $46 |
The company sold 156 units at $80 each and has a tax rate of 20%.
Assuming that a periodic inventory system is used, what is the
company’s after-tax income using LIFO? (rounded to whole
dollars)
Homework Answers
Add Answer to:
Marigold Industries had the following inventory transactions
occur during 2018:
Units
Cost/unit
2/1/18
Purchase
60
$40...
Marigold Industries had the following inventory transactions occur during 2018: Units 2/1/18 Purchase 50 3/14/18 Purchase...
Marigold Industries had the following inventory transactions occur during 2018: Units 2/1/18 Purchase 50 3/14/18 Purchase 95 5/1/18 Purchase 61 Cost/unit $40 $50 $54 The company sold 160 units at $80 each and has a tax rate of 40%. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO?(rounded to whole dollars) O $4556 O $2980 O $3144 O $5240
22.. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54...
22.. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 140 units at $65 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using LIFO? (rounded to whole dollars) a. $2,388 b. $2,678 c. $6,472 $6,712 d.
+ 23. Nicholas Industries had the following inventory transactions occur during 2014: 22 Units Cost/unit 2/1/16...
+ 23. Nicholas Industries had the following inventory transactions occur during 2014: 22 Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 140 units at $65 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using LIFO? (rounded to whole dollars)
25. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54...
25. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 150 units at $70 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO? (rounded to whole dollars) a. $1,672 b. $1,840 c. $2,388 d. $2,628
24. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchas...
24. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 140 units at $65 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars) a. $2,388 b. $2,628 c. $6,472 d. $6,712
Blue Spruce Corp. had the following inventory transactions occur during 2017: Units Cost/unit Feb 1, 2017...
Blue Spruce Corp. had the following inventory transactions occur during 2017: Units Cost/unit Feb 1, 2017 Purchase 125 $52 Mar. 14, 2017 Purchase 216 $55 May 1, 2017 Purchase 153 The company sold 355 units at $73 each and has a tax rate of 30%. Assuming that a periodic Inventory system is used, and operating expenses of $2088, what is the company's after-tax income using LIFO?(rounded to whole dollars) $3254 $4649 $2797 $3996 e Textbook and Media Solution Save for...
Pina Colada Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022...
Pina Colada Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 99 $99 Mar. 14, 2022 Purchase 171 $103 May 1, 2022 Purchase 121 $108 The company sold 281 units at $139 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using LIFO? $10457 $28602 $29548 $9511
Current Attempt in Progress Blossom Company had the following inventory transactions occur during 2022: Units Cost/unit...
Current Attempt in Progress Blossom Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1.2022 Purchase 127 $53 Mar. 14.2022 Purchase 219 $55 May 1, 2022 Purchase 156 $58 The company sold 361 units at $74 each and has a tax rate of 30%. Assuming that a periodic invento expenses of $2124, what is the company's after-tax income using LIFO? O $3460.80 O $2986.90 O $4944.00 O $4267.00 e Textbook and Media Save for Later Attempts:00 Type...
Whispering Winds Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022...
Whispering Winds Corp. had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1, 2022 Purchase 83 $83 Mar. 14, 2022 Purchase 143 $86 May 1, 2022 Purchase 101 $90 The company sold 235 units at $116 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company’s gross profit using FIFO? A) $6646 B) $20614 C) $19997 D) $7263
Any help? 1) 2) 3) Serene Stereos has the following inventory data: Nov. 1 8 17...
Any help?
1)
2) 3)
Serene Stereos has the following inventory data: Nov. 1 8 17 25 Inventory Purchase Purchase Purchase 26 units @ $5.30 each 106 units @ $5.70 each 53 units @ $5.55 each 79 units @ $5.80 each A physical count of merchandise inventory on November 30 reveals that there are 88 units on hand. Cost of goods sold under FIFO is Dole Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Mar. 14,...
Marigold Industries had the following inventory transactions occur during 2018: Units 2/1/18 Purchase 50 3/14/18 Purchase 95 5/1/18 Purchase 61 Cost/unit $40 $50 $54 The company sold 160 units at $80 each and has a tax rate of 40%. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO?(rounded to whole dollars) O $4556 O $2980 O $3144 O $5240
22.. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 140 units at $65 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using LIFO? (rounded to whole dollars) a. $2,388 b. $2,678 c. $6,472 $6,712 d.
+ 23. Nicholas Industries had the following inventory transactions occur during 2014: 22 Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 140 units at $65 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using LIFO? (rounded to whole dollars)
25. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 150 units at $70 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's after-tax income using FIFO? (rounded to whole dollars) a. $1,672 b. $1,840 c. $2,388 d. $2,628
24. Nicholas Industries had the following inventory transactions occur during 2014: Units Cost/unit 2/1/16 Purchase 54 $45 3/14/16 Purchase 93 $47 5/1/16 Purchase 66 $49 The company sold 140 units at $65 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars) a. $2,388 b. $2,628 c. $6,472 d. $6,712
Blue Spruce Corp. had the following inventory transactions occur during 2017: Units Cost/unit Feb 1, 2017 Purchase 125 $52 Mar. 14, 2017 Purchase 216 $55 May 1, 2017 Purchase 153 The company sold 355 units at $73 each and has a tax rate of 30%. Assuming that a periodic Inventory system is used, and operating expenses of $2088, what is the company's after-tax income using LIFO?(rounded to whole dollars) $3254 $4649 $2797 $3996 e Textbook and Media Solution Save for...
Current Attempt in Progress Blossom Company had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1.2022 Purchase 127 $53 Mar. 14.2022 Purchase 219 $55 May 1, 2022 Purchase 156 $58 The company sold 361 units at $74 each and has a tax rate of 30%. Assuming that a periodic invento expenses of $2124, what is the company's after-tax income using LIFO? O $3460.80 O $2986.90 O $4944.00 O $4267.00 e Textbook and Media Save for Later Attempts:00 Type...
Any help?
1)
2) 3)
Serene Stereos has the following inventory data: Nov. 1 8 17 25 Inventory Purchase Purchase Purchase 26 units @ $5.30 each 106 units @ $5.70 each 53 units @ $5.55 each 79 units @ $5.80 each A physical count of merchandise inventory on November 30 reveals that there are 88 units on hand. Cost of goods sold under FIFO is Dole Industries had the following inventory transactions occur during 2017: Feb. 1, 2017 Mar. 14,...
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 59 minutes ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 1 hour ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 2 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 3 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 3 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 3 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 4 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 5 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 5 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 5 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 5 hours ago -
Why are polymers not typically casted into products?
asked 5 hours ago