The cash flow assumptions that KCC uses.

Question

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Answer 1

Question

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

g.

To determine

The cash flow assumptions that P&G uses

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

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Answer 2

Question

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

g.

To determine

The cash flow assumptions that P&G uses

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

Expert Solution & Answer

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Answer 3

Question

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

g.

To determine

The cash flow assumptions that P&G uses

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

Expert Solution & Answer

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See solution

Answer 4

Question

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

g.

To determine

The cash flow assumptions that P&G uses

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

g.

To determine

The cash flow assumptions that P&G uses

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

Answer 6

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

Answer 7

Chapter 10, Problem 1FSAC

a.

To determine

The cash flow assumptions that KCC uses.

Answer 8

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

Answer 9

b.

To determine

The KC LIFO reserve at the end of 2011, 2012 and 2013.

Answer 10

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

Answer 11

c.

To determine

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

Answer 12

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

Answer 13

d.

To determine

The KC cost of goods under FIFO in 2012 and 2013.

Answer 14

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

Answer 15

e.

To determine

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

Answer 16

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

Answer 17

f.

To determine

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

Answer 18

g.

To determine

The cash flow assumptions that P&G uses

Answer 19

g.

To determine

The cash flow assumptions that P&G uses

Answer 20

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

Answer 21

h.

To determine

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

Answer 22

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Answer 23

Expert Solution & Answer

Answer 24

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Answer 25

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The cash flow assumptions that KCC uses.

The cash flow assumptions that KCC uses.

The KC LIFO reserve at the end of 2011, 2012 and 2013.

The balance of ending inventory in 2011, 2012 and 2013 when KC will use FIFO cash flow assumption.

The KC cost of goods under FIFO in 2012 and 2013.

KC gross profit, taxes and net income is higher or lower under FIFO in 2012 and 2013.

Compare KC gross profit percentage, inventory turnover ratio and days in inventory on hand under LIFO versus FIFO for 2012 and 2013.

The cash flow assumptions that P&G uses

Compare KC and P&G’s inventory turnover ratio and days in inventory on hand under FIFO for 2013.

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Chapter 10 Solutions