Smith-kline company maintains inventory records at selling prices as well as at cost. for 2021, the records indicate the following data: ($ in 000s) cost retail beginning inventory $ 76 $ 121 purchases 667 1,002 freight-in on purchases 26 purchase returns 1 2 net markups 3 net markdowns 7 net sales 912 required: 1. use the retail method to approximate cost of ending inventory valued under average cost method.

Asap describe three different expenses associated with restaurants. choose one of these expenses, and discuss how a manager could handle this expense.

Salaries are $4,500 per week for five working days and are paid weekly at the end of the day fridays. the end of the month falls on a thursday. the accountant for dayton company made the appropriate accrual adjustment and posted it to the ledger. the balance of salaries payable, as shown on the adjusted trial balance, will be a (assume that there was no beginning balance in the salaries payable account.)

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.