User Account

All Pages

What is ending inventory assuming northwest use gross method

Assignment Help Accounting Basics
Reference no: EM131322905

Accounting

Northwest Fur Co. started 2016 with $114,000 of merchandise inventory on hand. During 2016, $410,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,300. Merchandise with an invoice amount of $4,000 was returned for credit. Cost of goods sold for the year was $373,000. Northwest uses a perpetual inventory system. What is ending inventory assuming Northwest uses the gross method to record purchases?

Reference no: EM131322905

Questions Cloud

How does a bcp help mitigate risk : How does a BCP help mitigate risk ?What kind of risk does a BCP help mitigate? If you have business liability insurance, asset replacement insurance, and natural disaster insurance, do you still need a BCP or disaster recovery plan (DRP)? Why or w..
Huge number of individuals and firms : There are a huge number of individuals and firms who are out there selling their organizational development services. Take a look at videos and/or webpages of OD consultants and find a company or individual that really stands out in a good or bad ..
Teachers and stewards what comes to mind : When you think of the role of leaders as designers, teachers and stewards what comes to mind? What does this mean to you? How would this change the culture of your workplace?
The patient protection and affordable care act : The Patient Protection and Affordable Care Act (PPACA) of 2010 (section titled "Subtitle D") identifies requirements relating to provider compliance with fraud, waste, and abuse laws. Identify three measures that your health care organization ((or..
What is ending inventory assuming northwest use gross method : Cost of goods sold for the year was $373,000. Northwest uses a perpetual inventory system. What is ending inventory assuming Northwest uses the gross method to record purchases?
Health care workers and health care leaders : Based on the video, describe, with rationale, two key factors that you feel will need to be addressed by future health care workers and health care leaders. (Note: you can download slides from this video within the media piece itself for ease of r..
Draw a circuit diagram for the digital stopwatch : Are there any circumstances under which your stopwatch could function incorrectly because of metastable states? If so, describe them. How likely would these be to cause incorrect operation in practice? Explain your reasoning.
Identify a real-life outsourcing decision that has been made : Identify a real-life outsourcing decision that has been made. Identify the specific reasons for the outsourcing. If information is available, discuss the results of the outsourcing decision (jobs lost, cost savings, etc.). Cite sources as deemed n..
Responsibility does yahoo have to its employees : Discuss the ethics of the new policy at yahoo. Is it fair to tell employees who currently telecommute to either return to the office or find a new job? What moral responsibility does yahoo have to its employees?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd