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Question - In Year 5, Longley, Inc. (Longley) adopted the dollar value LIFO inventory method. At that time, Longley's ending inventory had a base-year cost and an end of year cost of $300,000. In year 6, the ending inventory had a $400,000 base year cost and a $440,000 end-of-year cost. What dollar value LIFO inventory cost would be reported on Longley's December 31, Year 6, balance sheet?
Select at least two companies and the ratios you would use to determine your investment strategy. Based on the companies you choose, speculate on how the ratios are likely to change over the next five years.
Some in your department at work are arguing that accounting changes are the same thing as accounting errors. Based on your study of accounting changes, what key points would you address concerning this issue and why?
Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset
The Aurelia Mining Company is considering the introduction of a new product to add to its existing product line. Calculate the Net Present Value of the project
In the previous question, suppose you have the option of receiving a check for $2700 instead of making the risky decision described. Would you make the risky decision, where you could lose $5000, or would you take the sure $2700? What would influe..
Prepare a workpaper that tracks the asset balance and annual expenses associated with R&D and the patent from 2008 through 2015
pro sports inc. manufactures basketballs for the nba. for thefirst 6 months of 2008 the company reported the following
Sharp tables produces go carts designed to a customers specification with the customers logo. How much is the cost of Job 65
advantage inc. produces two products a and b. last year the overhead costs were allocated based on machine hours. this
Messersmith Company is constructing a building. Construction began in 2010 and the building was completed 12/31/10. Messersmith made payments to the construction company of $1,000,000 on 7/1, $2,100,000 on 9/1, and $2,000,000 on 12/31. Average acc..
Compute the predetermined overhead rate. Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold
How many units of sales to regular customers would Husky lose if it took on the special order
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