Determining cost of goods sold; periodic inventory system [LO8-1] Askew Company uses a periodic inventory system. The June 30, 2016, year-end trial balance for the company contained the following information:
Account Debit Credit
Merchandise inventory, 7/1/15 32,000
Sales 380,000
Sales returns 12,000
Purchases 240,000
Purchase discounts 6,000
Purchase returns 10,000
Freight-in 17,000
In addition, you determine that the June 30, 2016, inventory balance is $40,000.
Required:
1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2016.
2. Prepare the year-end adjusting entry to record cost of goods sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

Review the key ethical and social issues over the last five decades and place each on the timeline in chronological order. note that once you complete this part of the question, you will be unable to adjust your answers.

What is considered to be a significant disadvantage of owning