Inventory Write-DownThe following information for Tuell Company is available:Case245Cost$5.00 $5.00 $5.00 $5.00 $5.00Net realizable value5.205.504.904.30 4.7ONet realizable value less normal profit4.905.304.804.004.60Replacement cost5.305.204.604.154.80Required:1. Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.s. GAAP? If required, round your answers to the nearest cent.InventoryCasevalue1242.243452. Assume Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent.InventoryCasevalue124342$5$43. Assume that Tuell uses the average cost inventory cost flow assumption. What is the correct inventory value in each of the preceding situations if Tuell uses IFRS? If required, round your answers to the nearest cent.InventoryCasevalue1$42243%2445$4

The LIFO approach used the lower of the cost or market value within US GAAP, while the other…

The following information for Tuell Company is available: Case 1 2 4 5 Cost $5.00 $5.00 $5.00 $5.00 $5.00 Net realizable value 5.20 5.50 4.90 4.30 4.70 Net realizable value less normal profit 4.90 5.30 4.80 4.00 4.60 Replacement cost 5.30 5.20 4.60 4.15 4.80 Required: 1. Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent. Inventory Case value 2

The following information for Tuell Company is available: Case 1 2 4 5 Cost $5.00 $5.00 $5.00 $5.00 $5.00 Net realizable value 5.20 5.50 4.90 4.30 4.70 Net realizable value less normal profit 4.90 5.30 4.80 4.00 4.60 Replacement cost 5.30 5.20 4.60 4.15 4.80 Required: 1. Assume Tuell uses the LIFO cost flow assumption. What is the correct inventory value in each of the preceding situations under U.S. GAAP? If required, round your answers to the nearest cent. Inventory Case value 2

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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Unit sales (a) Selling price per unit Variable cost per unit Traceable fixed expense TB MC Qu. 12A-46 Woodridge Corporation manufactures numerous... Woodridge Corporation manufactures numerous products, one of which is called Alpha-32. The company has provided the following data about this product Multiple Choice $1,375,220 77,000 76.00 61.00 $1,323,000 $52.220 Help $ $ Management is considering increasing the price of Alpha-32 by 5%, from $76.00 to $79.80. The company's marketing managers estimate that this price hike would decrease unit sales by 5%, from 77,000 units to 73,150 units Assuming that the total traceable fixed expense does not change, what net operating income will product Alpha-32 earn at a price of $79.80 if this sales forecast is correct? Save & Exit
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estion 2: vin Question 1: a. Explain the meaning of breakeven point and the benefit of using it in businesses. b. Given the following information for SAMAR Company, answer the following questions: Selling price (per unit) Number of units sold Variable cost (per unit) Fixed cost i.Calculate contribution margin ratio ii.Find Breakeven Point in amount iii.Find Breakeven Point in units 240 R.O 700 R.O 130 R.O 560,000 R.O
(e) Product Blue Product Red Selling $12.00 $24.00Variable cost $4.00 $8.00Contribution margin $8.00 $16.00Fixed costs apportioned $200,000 $400,00Budgeted Sales Units 140,000 60,000 Calculate the breakeven points, for each product and the company as a whole and comment on your findings f)Discuss the merits and demerits of the cost volume profit analysis (CVP)