Perpetual inventory using lifo beginning inventory, purchases, and sales data for dvd players are as follows: november 1 inventory 50 units at $51 10 sale 38 units 15 purchase 66 units at $54 20 sale 36 units 24 sale 11 units 30 purchase 27 units at $57 the business maintains a perpetual inventory system, costing by the last-in, first-out method. determine the cost of goods sold sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in exhibit 4. under lifo, if units are in inventory at two different costs, enter the units with the higher unit cost first in the cost of goods sold unit cost column and lower unit cost first in the inventory unit cost column.

Forty-two percent of federal revenue comes from . income taxes paid by businesses and corporations make up about of federal revenue. taxes collected for social security and medicare make up of federal revenue.

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $