Business, 27.11.2019 04:31 josephrosanne18
The inventories disclosure note in the 2021 financial statements for savers market included the following: "during fiscal 2021, 2020 and 2019, inventory quantities in certain lifo layers were reduced. these reductions resulted in a liquidation of lifo inventory quantities carried at lower costs prevailing in prior years as compared with the cost of fiscal 2021, 2020 and 2019 purchases. as a result, cost of good sold decreased by $27, $19 and $22 in fiscal 2021, 2020 and 2019, respectively. all inventories are stated at the lower of cost or current market values. cost for inventories at the majority of our operations is determined on a last-in, first-out ("lifo") basis." required:
a. the disclosure note indicates an inventory liquidation during 2021, 2020, and 2019. by how much did net income in 2021 increase due to the liquidation? assume an income tax of 30%. (enter your answer in millions rounded to one decimal place (i. e., 5,500,000 should be entered as 5.
b. what additional income tax payments did the 2021 liquidation cost savers market? (enter your answer in millions rounded to one decimal place (i. e., 5,500,000 should be entered as 5.
Answers: 3
Business, 21.06.2019 20:00
During 2017, sheridan company expected job no. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. sheridan applied overhead based on direct labor cost. actual production required an overhead cost of $260000, $510000 in materials used, and $150000 in labor. all of the goods were completed. what amount was transferred to finished goods?
Answers: 1
Business, 21.06.2019 22:50
The following data pertains to activity and costs for two months: june july activity level in 10,000 12,000 direct materials $16,000 $ ? fixed factory rent 12,000 ? manufacturing overhead 10,000 ? total cost $38,000 $42,900 assuming that these activity levels are within the relevant range, the manufacturing overhead for july was: a) $10,000 b) $11,700 c) $19,000 d) $9,300
Answers: 2
Business, 22.06.2019 01:30
Iam trying to get more members on my blog. how do i do this?
Answers: 3
Business, 22.06.2019 21:20
Which of the following best explains why large companies pay less for goods from wholesalers? a. large companies are able to pay for the goods they purchase in cash. b. large companies are able to increase the efficiency of wholesale production. c. large companies can buy all or most of a wholesaler's stock. d. large companies have better-paid employees who are better negotiators.
Answers: 2
The inventories disclosure note in the 2021 financial statements for savers market included the foll...
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