You are auditing the financial statements of TV Land Trading for the year ended December 31, 2019. TV Land which uses the FIFO inventory method. The inventory for the Mega widescreen TV shows 1,263 units at $782 for a total of $987,666. When you look at the invoices for the TVs, you see the following: Inventory Number Date Quantity UnitPrice Total
12732 11/22/14 1,000 $765 $765,000
12844 12/03/14 800 778 621,600
12905 12/28/14 600 783 469,200
Required:
Determine if the auditors need to recommend an adjustment for the cost of inventory. State yes/no and amount. Either way, show your working

Afood worker has just rinsed a dish after cleaning it.what should he do next?

By 2020, automobile market analysts expect that the demand for electric autos will increase as buyers become more familiar with the technology. however, the costs of producing electric autos may increase because of higher costs for inputs (e.g., rare earth elements), or they may decrease as the manufacturers learn better assembly methods (i.e., learning by doing). what is the expected impact of these changes on the equilibrium price and quantity for electric autos?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.