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Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes.
1. Compute its current ratio, inventory turnover, and days sales in inventory for 2013 using
(a) LIFO numbers
(b) FIFO numbers. (Round answers to one decimal.)
2. Comment on and interpret the results of part1.
Translate the profit of FC45 000 and the statement of financial position into Australian dollars. Explain the nature of the balancing item foreign exchange gain.
The second flight was a round trip from Chicago to New york. For this trip, it paid $300 for the pilot and $150 for fuel. the round trip between Chicago and San Francisco ia approximately 4400 miles and the round trip between Chicago and New York ..
1.Katie Murphy is preparing for a meeting with her banker. Her business is finishing its fourth year of operations.
Vernazza Pizza's owner bought his current pizza oven four years ago for $10,000 and it has one more year of life remaining. He is using straight-line depreciation for the oven.
Use as many examples as you can to show the logic which underpinned your decisions. Be sure you analyze, discuss and detail to explain both the “Why” and the “How”. Data should be used to back up your statements wherever necessary, e.g. market share..
Indicate what accounts are debited or credited - The company uses a perpetual inventory system. All prepayments are initially recorded in permanent accounts.
exercise 1johnson enterprises uses a computer to handle its sales invoices. lately business has been so good that it
Ace Manufacturing earns revenues of $2,100,000 annually on 150,000 unit sales of industrial part. The part is priced at $14 each. A potential customer, in industry that the company has not previously served
On November 4, 2006, Blue Company acquired an asset (27.5-year residential real property) for $100,000 for use in its business. In 2006 and 2007 respectively
question 1probability and statistical quality controlshow all calculationsreasoninga an unbiased coin is tossed twice.
Discuss the importance of management accounting for a healthy business and differentiate between management accounting and financial accounting
Assume that Lynn Company sells the same number of units in 2009 as it did in 2008. What would the selling price have to be in order to reach the stockholders' desired profit level?
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