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The following footnote related to accounting for inventory was taken from the 2010 annual report of Alcoa, Inc.:Inventory Valuation Inventories are carried at the lower of cost or market, with cost for a substantial portion of U.S. and Canadian inventories determined under the last-in, first-out (LIFO) method. The cost of other inventories is principally determined under the average-cost method. See Note G for additional information.
Required:
Write a brief report explaining the reason or reasons that best explain why Alcoa uses the LIFO cost flow method for its inventories kept in the United States and Canada, but the average cost method for its other inventories.
1.Compute cash flows from investing activities using the following company information.
for the last few decades many have proposed that businesses cannot solely be measured on financial statements alone.
During May, the number of equivalent full units of materials applied to units produced by Department Q totaled 50,000, computed as follows: beginning inventory, 7,000 equivalent full units; units started and completed in May, 35,000 equivalent ful..
the finance charge and the annual percentage rate of credit along with certain other costs and terms to permit consumers to compare the prices of credit from differing sources.
Before this entry was made, the balance in accounts receivable was $100,000 and the balance in the allowance account was $9,000. The net realizable value of accounts receivable before and after the write-off entry was
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spam inc. had the following standard costs and plans for fiscal current year for the production of custom meat products
a zero coupon bond with an 11% interest rate and maturity of 20 years is issued by JWU co. What is the price of the bond and how many would JWU need to sell if it needed to raise $10 million?
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