Business, 08.04.2020 05:04 Thelazysandwich

The Kwok Company’s inventory balance on December 31, 2021, was $255,000 (based on a 12/31/2021 physical count) before considering the following transactions: Goods shipped to Kwok f. o.b. destination on December 20, 2021, were received on January 4, 2022. The invoice cost was $48,000. Goods shipped to Kwok f. o.b. shipping point on December 28, 2021, were received on January 5, 2022. The invoice cost was $35,000. Goods shipped from Kwok to a customer f. o.b. destination on December 27, 2021, were received by the customer on January 3, 2022. The sales price was $58,000 and the merchandise cost $40,000. Goods shipped from Kwok to a customer f. o.b. destination on December 26, 2021, were received by the customer on December 30, 2021. The sales price was $38,000 and the merchandise cost $31,000. Goods shipped from Kwok to a customer f. o.b. shipping point on December 28, 2021, were received by the customer on January 4, 2022. The sales price was $43,000 and the merchandise cost $30,000.

Required: Determine the correct inventory amount to be reported in Kwok’s 2021 balance sheet.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 01:00

Bond x is noncallable and has 20 years to maturity, a 7% annual coupon, and a $1,000 par value. your required return on bond x is 10%; if you buy it, you plan to hold it for 5 years. you (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 9.5%. how much should you be willing to pay for bond x today? (hint: you will need to know how much the bond will be worth at the end of 5 years.) do not round intermediate calculations. round your answer to the nearest cent.

Answers: 3

Answer

Business, 22.06.2019 11:20

Money aggregates identify whether each of the following examples belongs in m1 or m2. if an example belongs in both, be sure to check both boxes. example m1 m2 gilberto has a roll of quarters that he just withdrew from the bank to do laundry. lorenzo has $25,000 in a money market account. neha has $8,000 in a two-year certificate of deposit (cd).

Answers: 3

Answer

Business, 22.06.2019 12:30

In the 1970s, kmart used blue light specials to encourage customers to flock to a particular department having a temporary sale. a spinning blue light activated for approximately 30 seconds, and then an in-store announcement informed shoppers of the special savings in the specific department. over time, loyal kmart shoppers learned to flock to the department with the spinning blue light before any announcement of special savings occurred. if kmart was employing classical conditioning techniques, what role did the spinning blue light play?

Answers: 3

Answer

Business, 22.06.2019 20:00

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.

Answers: 3

Answer

You know the right answer?

The Kwok Company’s inventory balance on December 31, 2021, was $255,000 (based on a 12/31/2021 physi...

Questions