Editing in proof-reading, grammar, spelling, punctuation, capitalization and writing techniques. Introduction: Correction symbols and proof-reading remarks to be referred for correction are: Delete: or Transpose: Space needed: Close up space: Delete letters and close up a word: New paragraph: Period or full stop: Semicolon: or Colon: or Insert or superscript: Insert or subscript: Insert comma: Insert apostrophe or single quotation mark: Insert double quotation marks: Insert en dash: or Insert em dash: or Centered: or Parentheses: Frequently used abbreviations Let it stand: Spelling: Capitals: Lowercase: Italics: Roman typeface: Bold typeface: Faulty diction: DICT Awkwardly expressed or constructed: AWK Wordy, too verbose: WDY Wrong word used (e.g. to/too): WW

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Presented below is information related to Swifty Inc.'s inventory, assuming Swifty uses lower-of-LIFO cost-or-market. (Per unit) Skis Boots Parkas Historical cost $285.00 $ 159.00 $ 79.50 Selling price $318.00 $217.50 $ 110.63 Cost to distribute $ 28.50 $ 12.00 $ 3.75 Current replacement cost $304.50 $157.50 $ 76.50 Normal profit margin $ 48.00 $ 43.50 $ 31.88 Determine the following: a. The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. Celling Limit $ Floor Limit $ b. The cost amount that should be used in the lower-of-cost-or-market comparison of boots. The cost amount $ c. The market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. The market amount $

Answer 1

Question

Chapter 2, Problem 1EC2

Summary Introduction

To Determine:

Editing in proof-reading, grammar, spelling, punctuation, capitalization and writing techniques.

Introduction:

Correction symbols and proof-reading remarks to be referred for correction are:

Delete: or

Transpose:

Space needed:

Close up space:

Delete letters and close up a word:

New paragraph:

Period or full stop:

Semicolon: or

Colon: or

Insert or superscript:

Insert or subscript:

Insert comma:

Insert apostrophe or single quotation mark:

Insert double quotation marks:

Insert en dash: or

Insert em dash: or

Centered: or

Parentheses:

Frequently used abbreviations

Let it stand:

Spelling:

Capitals:

Lowercase:

Italics:

Roman typeface:

Bold typeface:

Faulty diction: DICT

Awkwardly expressed or constructed: AWK

Wordy, too verbose: WDY

Wrong word used (e.g. to/too): WW

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Presented below is information related to Swifty Inc.'s inventory, assuming Swifty uses lower-of-LIFO cost-or-market. (Per unit) Skis Boots Parkas Historical cost $285.00 $ 159.00 $ 79.50 Selling price $318.00 $217.50 $ 110.63 Cost to distribute $ 28.50 $ 12.00 $ 3.75 Current replacement cost $304.50 $157.50 $ 76.50 Normal profit margin $ 48.00 $ 43.50 $ 31.88 Determine the following: a. The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. Celling Limit $ Floor Limit $ b. The cost amount that should be used in the lower-of-cost-or-market comparison of boots. The cost amount $ c. The market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. The market amount $

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Carmelita Inc. has the following information available: Costs from Beginning Direct materials Conversion costs Inventory Costs from Current Period $5,100 6,800 $ 20,200 1,46,900 At the beginning of the period, there were 500 units in a process that was 45% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,100 units were started and completed. The ending inventory contained 400 units that were 29% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The equivalent units of production for direct materials and conversion costs, respectively, were: a. 5,100 from direct materials and 5,491 for conversion costs. b. 5,491 for direct materials and 5,500 for conversion costs. c. 5,491 for direct materials and 5,491 for conversion costs. d. 5,500 for direct materials and 5,491 for conversion costs.