can you please answer this account query? Jenks Company developed the following informationabout its inventories in applying lower of cost ormarket (LCM) basis in valuing inventories:Product CostMarketA$57,000 $60,000B40,000 38,00080,000 81,000If Jenks applies the LCM basis, the value of theinventory reported on the balance sheet would be:a. $177,000b. $181,000c. $179,000d. $175,000

To determine the value of the inventory under the Lower of Cost or Market (LCM) rule, we compare the…

Answered: Jenks Company developed the following…

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.3C

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Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.
Complete the following paragraphs : If the common cost ( 450 000)$. distribution between S. and R. using N.R.V. the sales Value of S. ( 255 000)$. , ( 300 000)$. to the R. and the Cost after off point to the (S. ) ( 125 000)$. the value of N.R.V. to the S. ?. * (- 130000 )$ ( 130000)$. ( another option)
If a company has four lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle) for$15, purchase 3 (middle) for $12, and purchase 4 (latest) for $14, which cost would be assumed to be sold firstusing LIFO costing?A. $17B. $15C. $12D. $14
74. Subject :- Accounting
Given that the cost of goods completed was $57 000, sales $80 000, finished goods at start $3 200 and finished goods at the end of the period $1 595, what will be the gross profit? A. $19 800B. $21 395C. $23 000 D. $24 595
Corona Company incurred the following costs: Materials P 700,000Storage costs of finished goods 180,000Delivery to customers 40,000Irrevocable Purchase Taxes 60,000 What amount should the inventory be measured?a. 880,000b. 760,000c. 980,000d. 940,000
Required: . Using the FIFO cost flow assumption, the gross profit for the year ended December 31, 2021 is:
How do i create an NPV graph on excel using these data: Unit Sale NPV 1,000,000.00 - 2,952,452.00 1,500,000.00 - 2,001,492.00 2,000,000.00 - 1,050,533.00 2,500,000.00 - 384,861.00 2,789,077.17 - 3,000,000.00 280,811.00 3,500,000.00 946,482.00 4,000,000.00 1,612,154.00 4,500,000.00 2,277,826.00
Use this a pivot table to calcuate the number of total sales revenue, total profit and average profit margin for each product category: Product Category Sum of Quantity Sum of Equipment Cost Sum of Sale Amount Bar Equipment 510 11504.3726 31277.3 Commercial Appliances 730 143395.992 218123.25 Concession Equipment 352 155565.7424 240188.6 Fryers 1874 44151.6007 73716.1 Ovens and Ranges 605 491640.5884 645171.45 Refrigerators and Coolers 457 457926.0049 675414.5 Warmers 395 431708.5537 467847.3 Grand Total 4923 1735892.855 2351738.5
uols A moodle1.du.edu.om Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in progress is 4000, and closing stock of Work in progress is 5000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 358500 OMR Calculate cost of goods available for sale Select one: a. None of these O b. 395000 OMR O c. 385500 OMR O d. 378500 OMR Previous page Next page ASSIGNMENT 1 Jump to... Quiz navigation 200 1 2 3 5 6 7 8 || 9 4. II
IComc ノラ EEIS.S (LO 2) Vertical analysis (common-sizc) percentages for Palau Company's salcs revenuc, cost of goods sold, and expenses are as follows. Analyze chinge in nci imome. Vertical Analysis 2020 2019 2018 Sales revenue 100.0% 100.0% 100.0% 60.5 Cost of goods sold Expenses 62.9 64.8 26.0 26.6 27.5 Did Palau's net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer. BE18.9 (LO 2) Writing Horizontal analysis (trend analysis) percentages for Phoenix Compa chanye in net income.
Raw Material Consumed is 25000 OMR, Prime cost is 338000 OMR, Cost of Production is 471800 OMR, cost of goods manufactured 485000 OMR Opening stock of work in progress is 27500, and closing stock of Work in progress is 14000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Calculate cost of goods available for sale Select one: a. None of These b. 450000 OMR c. 505000 OMR d. 605000 OMR

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