Watergate, Inc. uses a perpetual inventory system. It entered into the following purchases andsales transactions. Use this information to answer the questions that follow.DateWatergate, Inc. InventoryActivitiesOct. 1Beginning InventoryOct. 5PurchaseOct. 9SaleOct. 18PurchaseOct. 24SaleDetails110 units @ $2050 units @ $2260 units @ $4070 units @ $2555 units @ $40Question 1Watergate, Inc.: Assuming FIFO inventory method answer the following:1. Total cost of goods sold at the end of the period.2. Ending inventory in dollars not units at the end of the period.3. Gross profit for the period.Question 2Watergate, Inc.: Assuming LIFO inventory method answer the following:1. Total cost of goods sold at the end of the period.2. Ending inventory in dollars not units at the end of the period.3. Gross profit for the period.

FIFO Method (First In, First Out) Inventory Transactions:1. Beginning Inventory (Oct. 1): 110 units…

Answered: Watergate, Inc. uses a perpetual…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Toys "R" Us had cost of goods sold of $12,355 million, ending inventory of $3,187 million, and average inventory of $2,343 million. Its days' sales in inventory equals:
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Distinguish between FOB destination and FOB origin. Whatprocedures should the auditor follow concerning acquisitions of inventory on an FOBorigin basis near year-end?
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1. Determine the inventory order quantity for Diamant’s distributor.2. Compare the optimal order quantity with a seasonally adjusted forecast for demand. Doesthe order quantity seem adequate to meet the seasonal demand pattern for Diamonds(i.e., is it likely that shortages or excessive inventories will occur)?
Q 12.30: Alvin's Apple Orchard manages inventory closely to maintain freshness. In the past four years, its current assets have fluctuated with demand and supply of fresh fruits. The following table reproduces selected balance sheet items: 2020 2019 2018 2017 Accounts 10.1% 11.9% 12.1% 12.4% receivable Raw material 7.0% 7.6% 7.8% 8.0% inventory Finished goods 5.2% inventory 4.6% 5.3% 5.4% Alvin's common size analysis shows that A inventory management improved over the period as a result of better control over raw material inventory. В inventory management deteriorated over the five years as a result of poor control over finished raw material inventory. C receivables are becoming easier to collect. inventory management improved over the period as a result of better control over finished goods inventory. D
Genchev Industries conducts an ABC analysis of its inventory and develops the following table from its findings. Item Annual Usage Unit Cost Dollar Usage 1 9,960 $43.20 $430,272 2 3,362 $22.80 $76,654 3 8,332 $9.90 $82,487 4 3,074 $22.30 $68,550 5 2,968 $8.40 $24,931 6 4,195 $25.00 $104,875 7 4,536 $19.20 $87,091 8 9,538 $65.60 $625,693 9 3,484 $3.20 $11,149 10 10,232 $5.70 $58,322 Which of these items is a C item? a. Item 8 b. Item 6 c. Item 5 d. Item 1
Subject: accounting
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Question 7 Firm develop new products to a.gain market share and build brand equity b.keep their research and development teams gainfully employed c.take up slack in capacity d.gain first mover advantage and eliminate waste Question 8 Economic order quantity (EOQ) assumes all of the following conditions apply .demand is known and is constant over time .there are no shortages allowed.lead time for the receipt of orders is constant.Order quantity is received all at once true or false? question 10 Trade-offs in the new product development relate to A.Product / service design, time to market and profitability B.Proft. Expenditure and market share C.Time. cost and quality D.Market reach, product / service design and timing

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