5:434GMuna Du6 PhotosSelect6. 1800 OMIROc. 15000 OMR Od. 500 OMR C:51 PMY:01A moodle1.du.edu.om:Company records disclose the followingOROpeninginventory95000ORNet sales10000OR Gross profitORPurchases5000045000ORPurchasesORFrieght-In1000discounts500The Closing inventory isاخترأحد الخياراتa. 6000 Ob. 5000 OC. 10000d. 9500 O8 J-II

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Description: 5:434GMuna Du6 PhotosSelect6. 1800 OMIROc. 15000 OMR Od. 500 OMR C:51 PMY:01A moodle1.du.edu.om:Company records disclose the followingOROpeninginventory95000ORNet sales10000OR Gross profitORPurchases5000045000ORPurchasesORFrieght-In1000discounts500T

Given: Net sales = OR 95,000 Purchases = OR 45,000 Freight-in = OR 500 Opening inventory = OR 10,000…

Business

Accounting

Company records disclose the following OR Opening OR Net sales 0000 inventory95000 OR Gross profit OR Purchases 0000 45000 OR Purchases OR Frieght-In 1000 discounts 500 The Closing inventory is اخترأحد الخيارات a. 6000 O b. 5000 c. 10000 050

Company records disclose the following OR Opening OR Net sales 0000 inventory95000 OR Gross profit OR Purchases 0000 45000 OR Purchases OR Frieght-In 1000 discounts 500 The Closing inventory is اخترأحد الخيارات a. 6000 O b. 5000 c. 10000 050

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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TB MC Qu. 8-111 (Static) A company has the following information available... A company has the following information available that was used to report inventory using the dollar-value LIFO method. Year 12/31/2023 12/31/2024 Year-End Cost $ 250,000 259,000 Cost Index 1.00 1.06 For the year ended 12/31/2024, the company reported inventory of $274,540 (= $259,000 x 1.06). Which of the following statements is correct? Multiple Choice The amount reported for ending inventory should be calculated as $250,000 + ($9,000 ÷ 1.06). The amount reported for ending inventory should be calculated as $259,000+ 1.06. The amount reported for ending inventory is correct. Proy 16 of 16 HH Ch Next
Using Perpetual Inventory, identify cost of goods sold expense for Oct 2021 # Units Cost Sale price 01-Oct Opening Inventory 500 $10,000.00 04-Oct Sales 100 $4,000.00 07-Oct Purchase 300 $6,300.00 11-Oct Sales 225 $9,225.00 15-Oct Purchase 350 $6,650.00 17-Oct Sales 175 $6,650.00 18-Oct Sales 275 $10,725.00 Using FIFO, provide Closing Inventory Question 5 options: 7565.23 7415.65 7433.44 7395.58
5. PE.07-08B H Show Me How eBook Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Tango Company follows: 20Y7 20Y6 Cost of merchandise sold $3,864,000 $4,001,500 Inventories: Beginning of year 770,000 740,000 End of year ৪40,000 770,000 a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. Inventory Turnover 20Y7 20Y6 b. Determine the days' sales in inventory for 20Y7 and 20Y6. Assume 365 days a year. Round interim calculations and final answers to one decimal place. Days' Sales in Inventory 20Y7 days 20Y6 days c. Does the change in inventory turnover and the days' sales in inventory from 20Y6 to 20Y7 indicate a favorable or an unfavorable trend?
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JOURNAL TRANSACTION: Sold $45,500 in inventory to a customer for $68,250 on account, 2/10, n/30. Transaction for $68,250:
28) A company uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations: Beginning inventory and purchases. Net markups Net markdowns Net sales What amount should be reported as cost of goods sold for the year? 300235 299884 301400 none Cost $ 319,0001 Retail $ 534,000 46,000 36,000 512,000
Oo1. Subject :- Account