Business, 16.01.2020 00:31 milkshakegrande101

Eastman company lost most of its inventory in a fire in december just before the year-end physical inventory was taken. corporate records disclose the following. inventory (beginning) $ 80,000 sales revenue $415,000 purchases 290,000 sales returns 21,000 purchase returns 28,000 gross profit % based on net selling price 35 % merchandise with a selling price of $30,000 remained undamaged after the fire, and damaged merchandise has a net realizable value of $8,150. the company does not carry fire insurance on its inventory. compute the amount of inventory fire loss. (do not use the retail inventory method.)

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 17:10

Show the changes to the t-accounts for the federal reserve and for commercial banks when the federal reserve buys $50 million in u.s. treasury bills. if the public holds a fixed amount of currency (so that all loans create an equal amount of deposits in the banking system), the minimum reserve ratio is 10%, and banks hold no excess reserves, by how much will deposits in the commercial banks change? by how much will the money supply change? show the final changes to the t-account for commercial banks when the money supply changes by this amount.

Answers: 3

Answer

Business, 22.06.2019 01:20

Which of the following statements concerning an organization's strategy is true? a. cost accountants formulate strategy in an organization since they have more inputs about costs. b. businesses usually follow one of two broad strategies: offering a quality product at a high price, or offering a unique product or service priced lower than the competition. c. a good strategy will always overcome poor implementation. d. strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives.

Answers: 1

Answer

Business, 22.06.2019 08:30

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Answers: 3

Answer

Business, 22.06.2019 22:00

Suppose that with a budget of $110, deborah spends $66 on sushi and $44 on bagels when sushi costs $2 per piece and bagels cost $2 per bagel. but then, the price of bagels falls to $1 per bagel.

Answers: 3

Answer

You know the right answer?

Eastman company lost most of its inventory in a fire in december just before the year-end physical i...

Questions