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1. Compute FIFO, LIFO, Average Cost-Periodic Presented below is information related to radios for the Couples Company for the month of July.
(a) Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions.
(1) FIFO.
(2) LIFO.
(3) Weighted-average.
(b) Answer the following questions.
(1) Which of the methods used above will yield the lowest figure for gross profit for the income statement? Explain why.
(2) Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? Explain why.
For this information, make appropriate assumptions about cost behavior and assume that direct labor costs vary directly with thenumber of units produced. How many units must the company sell inorder to earn a pretax profit of $500,000?
a. Is considered a good choice for benchmarks in preparing a performance report b. Is prepared for a particular level of activity.
on december 31 2010 faital company acquired a computer from plato corporation by issuing a 600000 zero-interest-bearing
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In the Mattel factory they are spending hours upon hours making the new action figures for the upcoming film MATRIX IV-THE RISE OF NEO.
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consider the following statement to maximise profit you need to sell your output at the highest price. analyse the
What if the company only pays $210 per unit? How does this change the contribution towards profitability?
for the current year lancing company reported basic earnings per share of 8 and fully diluted earnings per share of 3.
The machine has a 5 year useful and has a salvage value of $3,000. The new machine will generate $8,000 in additional sales each year. Bob has a hurdle rate of 10%.
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a review of the balance sheet of a retailer such as wal-mart will disclose that in current assets the majority
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