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Use the information for Ryder Co. to compute inventory turnover for 2011 and 2010, and its days' sales in inventory at December 31, 2011 and 2010.
Use the retail inventory method to estimate Wichita's 2011 ending inventory at cost.
What is the cost of the 155 units that remain in ending inventory at January 31, assuming costs are assigned based on a perpetual inventory system.
A company reports the beginning inventory and purchases, and it ends the period with 30 units in inventory.
What has Samsung recorded for 2008 as a write-down on valuation of its inventories?
Use the gross profit method to estimate the company's first quarter ending inventory.
Compute the number and total cost of the units available for sale in year 2011.
How would the financial results from using the three alternative inventory costing methods change if the company had been experiencing decreasing prices.
Use the retail inventory method to estimate the company's year-end inventory.
How does Golf Mart's use of FIFO improve its net profit margin and current ratio?
Prepare a memorandum that identifies, explains, and justifies the inventory method you recommend your client, Ms. Gonzalez, adopt.
Compute its gross margin and gross margin ratio for the 2009 calendar year. Comment on your computations-assume an industry average of 27% for gross margin.
How likely is it that this inventory costing method will reflect the actual physical flow of goods?
You might also inquire as to what the store's inventory turnover is and how often physical inventory is taken.
Compute net sales, gross profit, and the gross margin ratio for each separate case.
A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $32,900.
Use the information on current assets and current liabilities to compute and interpret the acidtest ratio.
Identify similarities and differences between the acid-test ratio and the current ratio.
Sold merchandise for $2,000, granting the customer terms of 2y10, EOM; invoice dated April 1. The cost of the merchandise is $1,400.
Explain how the accounting for merchandise purchases and sales is different between accounting under IFRS versus U.S. GAAP.
Sent a check to Blue Company for the April 2 purchase, net of the discount and the returned merchandise.
Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 11% and paid .
On May 7, DeSoto returns 200 units because they did not fit the customer's needs. Spare Parts restores the units to its inventory.
Prepare journal entries that Hope Corporation records for these transactions.