Business, 13.01.2021 17:50 priceb17

Cullumber uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $379000 ($583000), purchases during the current year at cost (retail) were $1835000 ($3080000), freight-in on these purchases totaled $118000, sales during the current year totaled $2780000, and net markups (markdowns) were $61000 ($97000). What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e. g. 0.635 and final answer to 0 decimal places.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 19:00

Danielle enjoy working as in certified public accountant (cpa) and assisting small business and individuals with managing their financial and taxes . which general area of accounting is her specialty ?

Answers: 1

Answer

Business, 22.06.2019 09:40

Catherine de bourgh has one child, anne, who is 18 years old at the end of the year. anne lived at home for seven months during the year before leaving home to attend state university for the rest of the year. during the year, anne earned $6,000 while working part time. catherine provided 80 percent of anne's support and anne provided the rest. which of the following statements regarding whether anne is catherine's qualifying child for the current year is correct? a.anne is a qualifying child of catherine.b.anne is not a qualifying child of catherine because she fails the gross income test.c.anne is not a qualifying child of catherine because she fails the residence test.d.anne is not a qualifying child of catherine because she fails the support test.

Answers: 2

Answer

Business, 22.06.2019 15:20

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Answers: 1

Answer

Business, 22.06.2019 19:50

Aproduction line has three machines a, b, and c, with reliabilities of .96, .86, and .85, respectively. the machines are arranged so that if one breaks down, the others must shut down. engineers are weighing two alternative designs for increasing the line’s reliability. plan 1 involves adding an identical backup line, and plan 2 involves providing a backup for each machine. in either case, three machines (a, b, and c) would be used with reliabilities equal to the original three. a. compute overall system reliability under plan 1. (round your intermediate calculations and final answer to 4 decimal places.) reliability b. compute overall system reliability under plan 2. (round your intermediate calculations and final answer to 4 decimal places.) reliability c. which plan will provide the higher reliability? plan2plan1

Answers: 3

Answer

You know the right answer?

Cullumber uses the conventional retail method to determine its ending inventory at cost. Assume the...

Questions