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Charles Inc. began using dollar-value LIFO for costing its inventory last year (base year). The ending inventory this year was $120,000 and the price index was 1.0. At the end of the current year, inventory at current costs is $180,000 and the year-end price index is 1.2. What is the ending inventory using dollar-value LIFO?
Distinguish between accounting treatment for available for sale equity securities and trading equity securities with example.
Donkey Company manufactures two products, Standard and DeLuxe. Donkey's overhead costs consist of machining, $2,000,000; and assembling, $1,000,000. Information on the two products is:
the following information is available for flip companybeginning
Roark Company paid $630,000 for a basket purchase that included land, a building and equipment. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately:
given the following data for good man company compute a total manufacturing costs and b costs of goods
your pal comments i just ignore the income statement when im making an investment decision. all i care about is the
Management is considering dropping product lines A and B.If 50% of the fixed costs for dropped products could be avoided, what recommendation would you make to management? Quantify you answer.
rand medical manufactures lithotripters. lithotripsy uses shock waves instead of surgery to eliminate kidney stones.
Taxpayer receives stock as a gift from his uncle. The adjusted basis of the stock is $20,000 and the fair market value is $37,000. Taxpayer trades the stock for bonds with a fair market value of $35,000 and $2,000 cash. What is his recognized gain..
How much will a firm need in cash flow before tax and interest to satisfy debtholders and equityholders if: the tax rate is 35%, there is $13 million in common stock requiring a 10% return, and $6 million in bonds requiring an 6% return?
Equipment with an estimated market value of 75,000 is offered for sale at 95,000. the equipment is acquired for 30,00 in cash and a not payable of 50,000 due in 30 days the amount used in the buyers accounting records to the acquired asset is what..
FOB destination, that will be received by Hastings on January 3. Determine the correct amount of inventory that Hastings should report.
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