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Park Company reported the following March purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Mar. 1 Beginning Inventory 150 units @ $ 7.00 = $ 1,050 Mar. 10 Sales 90 units @ $ 15 Mar. 20 Purchase 220 units @ $ 6.00 = 1,320 Mar. 25 Sales 145 units @ $ 15 Mar. 30 Purchase 90 units @ $ 5.00 = 450 Totals 460 units $ 2,820 235 units Park uses a perpetual inventory system. For specific identification, ending inventory consists of 225 units, where 90 are from the March 30 purchase, 80 are from the March 20 purchase, and 55 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Due to rounding, the sum of Cost of Goods Sold and Ending inventory may not equal the Cost of Good available for sales. Round per unit costs to three decimal places. Round your answer to nearest dollar amount
maddox specialty company a division of lost world inc. manufactures three models of gear shift components for bicycles
The prevailing rate of interest for a note of this type on January 1, 2010, was 9%. At what amount should the gain from the sale of the building be reported?
SAC is considering the purchase of new equipment to manufacture specialty spark plugs. The new equipment would allow the firm to manufacture 100,000 additional spark plugs per year and is expected to have a useful life of 5 years and to have no sa..
Kim owns 100% of the stock of Cardinal Corporation. In the current year Kim transfers an installment obligation, tax basis of $30,000 and fair market value of $200,000, for additional stock in Cardinal worth $200,000.
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Sally Kist owns Linen Kist Fabrics. Sally asks you to explain how she should treat the reconciling items when reconciling the company"s bank account
Larry Company prepares bank reconciliations that adjust to the correct balance of cash, based on the following.
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