Reference no: EM13862955
Problem 1:
On June 30, Calico Fabrics has the following data pertaining to the retail inventory method. Goods available for sale: at cost $48,764; at retail $66,800; net sales $42,000; and ending inventory at retail $24,800.
Compute the estimated cost of the ending inventory using the retail inventory method.
The estimated cost of the ending inventory $
Problem 2:
Mercer Inc. is a retailer operating in British Columbia. Mercer uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Mercer Inc. for the month of January 2014.
|
Date
|
|
Description
|
|
Quantity
|
|
Unit Cost or Selling Price
|
|
January
|
1
|
|
Beginning inventory
|
|
200
|
|
$15
|
|
January
|
5
|
|
Purchase
|
|
280
|
|
19
|
|
January
|
8
|
|
Sale
|
|
220
|
|
29
|
|
January
|
10
|
|
Sale return
|
|
20
|
|
29
|
|
January
|
15
|
|
Purchase
|
|
110
|
|
22
|
|
January
|
16
|
|
Purchase return
|
|
10
|
|
22
|
|
January
|
20
|
|
Sale
|
|
180
|
|
34
|
|
January
|
25
|
|
Purchase
|
|
40
|
|
25
|
Calculate the Moving-average cost per unit at January 1, 5, 8, 15, 20, & 25.
For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving-average cost.
|
Estimate the area between the x-axis at the curve f
: Estimate the area between the x-axis at the curve f (x) = x 1 1 from x = 1 to x = 13 using: + (a) (1 pt) a left-hand sum with it = 4. Is this estimate an overestimate or underestimate? (b) (1 pt) a right-hand sum with it = 4. Is this estimate an ove..
|
|
Determining the standard deviation
: Question 1: A study of 20 college students was conducted to see how many adults would have low bone mineral density, even at a younger age. Investigators wish to know what is the probability of having a bone mineral density score less than 2 units..
|
|
What are the characteristics of romantic love as described
: What are the characteristics of "romantic love" as described in these two stories. Why didn't Gurun marry his beloved Le Fresne and why was she resigned to him marrying another women
|
|
Use cramer''s rule to solve for the equilibrium prices
: An economy has three markets with supply and demand functions for the three goods given by q = —20 + 3/31 — P2 qi = 255 — 2p1 — p3 q2 = -125 + 2p2 - pi - P3D onn q2 — ziuu — p2 nS A, = -±p3 2pi q3 = 225 — 2p3 — pi Use Cramer's rule to solve for the..
|
|
Compute the estimated cost of the ending inventory
: Compute the estimated cost of the ending inventory using the retail inventory method and calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving-average cost.
|
|
Write a short essay on the implications of us bill of rights
: Write a short essay on the implications of the US Bill of Rights (minimum 600 words). As part of your answer, make sure to discuss and explain which one of the 10 amendments you believe is the most important.
|
|
Show that if g is a connected graph of order
: (a) Show that if G is a connected graph of order n ≥ 4 having cycle rank 1, then for every two distinct vertices u and v of G, the graph G contains at most two u - v paths. (b) Is the statement in (a) true if G has cycle rank 2?
|
|
Evaluate one of the books from the list
: Evaluate one of the books from the list posted separately in this Blackboard Syllabus folder. Also be sure to place the book in the context of any material from our classes, including Powerpoints from later in the course material, if appropriate.
|
|
How levines approach questions originality of creation
: Discuss how Levine's approach questions originality of creation of an artist. What makes an original? Was Levine justified in her work? How does this work reflect Postmodernism as you understand it?
|