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A corporation adopted the doalr value LIFO method of inventory valuation on Dec 31, 2011. Its inventory at that date was 450000 and the relevant price idex was 100. The information regarting inventory for subsequent years is as follows.
Date Inventory at current price current price idex
Dec 31,2012 $513600 107
Dec 31,2013 $580000 125
Dec 31, 2014 $650000 130
What is the ending inventory at december 31, 2012 under dollar value lifo?
Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.5% of accounts receivable. a) Prepare the Decemb..
crystal telecom has budgeted the sales of its innovative mobile phone over the next four months as followssales in
Jay Levitt Company produces one product, a putter called GO-Putter. Levitt uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. Compute the applied overhead for Levitt for the year:
Discuss cash dividends and stock dividends. How is each recorded? When each is issued, what is the affect may it have on assets, liabilities and owner's equity?
Evaluate at least three significant differences and similarities between IFRS and GAAP and the impact these similarities and differences can have on financial statements.
Assume that the present value at January 1, 2002, of all rent payments over the lease term discounted at a 10 percent interest rate was $5,280,000. What amount of interest revenue should Baxter record in 2003 (the second year of the lease period) ..
In 2009, Osgood Corporation purchased $4 million in ten-year municipal bonds at face value. On December 31, 2011, the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities.
the June 15 sale consists of 3 fishing reels from beginning inventory and 11 fishing reels from the June 12 purchase, and the June 27 sale consists of 1 fishing reel from beginning inventory and 6 fishing reels from the June 24 purchase.
what atmospheric conditions must change so that the westerly fl owing polar front jet stream reverses direction and
ingham inc. has the capacity to produce 10000 fax machines per year. ingham currently produces and sells 7000 units
Jaclyn is going to the company's primary bank to negotiate a line of credit and wants to show the maximum amount of income without actually changing last year's results. What costing method of inventory(variable or absorption) should she choose? W..
In order to make the appropriate decision, the manager computed the annual interest rate associated with the sales discount. This annual rate is approximately ??
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