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1. Assume 007 Inc. made sales of $964.4 million during 2016. Cost of goods sold for the year totaled $655.3 million. At the end of 2015, 007 Inc. inventories stood at $200.7 million, and the company ended 2016 with inventory of $240 million. Compute 007's gross profit percentage and rate of inventory turnover for 2016.
On January 2, Manning Co. purchases and installs a new machine costing $324,000 with a five year life and an estimated $30,000 salvage value.
tony merchandise company has the following information for the month of februaryfeb. 2beginning inventory20units12per
your client is planning to invest some of its excess cash in 5-year revenue bonds issued by the county. to avoid
A and C is a famous country-and-western singer. As an investment, A and C started a chain of barbecue restaurants called ACs Terrific Ribs. AC’s friends and associates invested $600,000 in this venture. Flake felt that he personally had to make good..
Maple Corp. owns a building with an original cost of $1,000,000 and accumulated depreciation at the balance sheet date of $200,000. Based on a recent appraisal, the fair value of the building is $850,000.
Fixed costs are $400,000 and the contribution margin per unit is $80. What is the break-even point?
felton company has a factory machine with a book value of 90000 and a remaining useful life of 4 years. a new machine
An invoice for 50000 dollar dated feb 22 has payment terms 4/5, 3/20, n/30. A partial payment of 27000 was made on mar 10 a. How much was credeted to the account b. Determine the outstanding balance after this partial payment.
below you will find a series of independent questions involving present value concepts. show all factors used in
How could a general audit software or data analysis software package be used to assist with these audit tests?
the reason we use the words unfavorable and favorable when computing variances is made clear when we look at the
Who are the stakeholders who will be affected by such legislation? What arguments can you make for or against it?
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