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The records at the end of January 2012 for Captain Company showed the following for a particular kind of merchandise: Inventory, December 31, 2011, at FIFO: 19 Units @ $16 = $304 Inventory, December 31, 2011, at LIFO: 19 Units @ $12 = $228 Transactions Purchase, January 9, 2012 (units: 25, unit cost: $14, total cost: $350) Purchase, January 20, 2012 (units: 50, unit cost: $19, total cost: $950) Sale, January 21, 2012 Sale, January 27, 2012 (at $39 per unit) (units: 28) Required: Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods.
calculate the per patient day (PPD) rates for all areas highlighted in blue.
inventory errors mclelland inc. reported net income of 150000 for 2011 and 165000 for 2012. early in 2012 mclelland
Assess how a company's accounting and financial reporting is likely to be impacted by the work being done by the EITF on this issue.
What is the difference between the revenue listed in item (1) and thatlisted in item (6)?
Why would a company use a single-step vs. a multi-step income statement? For what type of business is a multi-step income statement most appropriate?
skolt products inc. is a merchandising company that sells binders paper and other school supplies. the company is
Additional rent payments are due on the first day of each month beginning March 1. Show entries through March.
The journal entry to adjust the books when the net credit sales method is used to account for bad debts will be: debit and credit?
Micro spinoffs,Inc issued an 20-year-old debt a year ago at par value with a coupon rate of 8 percent, paid annually. Today, the debt is selling at $1050. If the firm is tax bracket is 35 percent, what is its after-tax cost of debt?
georgia company reported accounts receivable of 16.5 million at the end of its 2007 fiscal year. this amount was net of
On July 31, 2010, Fenton Company had a cash balance per books of $6,140. The statement from Jackson State Bank on that date showed a balance of $7,695.80. A comparison of the bank statement with the cash account revealed the following facts.
For Bobby Company, sales is $1,000,000 (5,000 units), fixed expenses are $300,000, and the contribution margin per unit is $80. What is the margin of safety in dollars?
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