Answer:
The raw material inventory turnover is 9.2 times or 40 days
Explanation:
This problem requires us to compute raw material inventory turnover. The inventory turnover ratio is calculated by dividing the inventory used for a period by the average inventory for that period. Average inventory is used instead of ending inventory because many companies' merchandise fluctuates greatly throughout the year.
So RM inventory turnover = RM used/Average inventory
= 104,600/11,350*
= 9.2 times or 40 days**
* Average inventory = (9,900+ 12,800)/2
** (365/9.2) = 40 days
Answer:
LIFO Periodic method
Explanation:
The LIFO means Last In First Out this means that item that have been stocked today would be sold first although there’s still some inventory from previous periods.
Using LIFO would result in lower ending inventory because closing inventory would be valued at low price which they had been bought assuming that there’s now a hick in price and goods in the warehouse were stocked when prices were low.
LIFO is used for the manipulation of profit.
Answer:
Discount on bonds issuance = $15750
Explanation:
A bond is issued at a discount when the issue price of the bond is less than the face value of the bond. This usually happens when the coupon rate paid by the bond is less than the market interest rate. To calculate the amount of discount on bonds issuance, we simply deduct the issue price from the face value of the bond. Thus,
Discount on Bonds = Face value - Issue price
As we know the face value of the bonds is $700000 and the issue price is $684250, we can calculate the discount on issuance to be,
Discount on bonds issuance = 700000 - 684250
Discount on bonds issuance = $15750
Answer:
Supply Chain Orientation
Explanation:
Supply Chain Orientation refers to a management philosophy that guides the actions of company members toward the goal of actively managing the upstream and downstream flows of goods, services, finances, and information across the supply chain.
The amount of his monthly net cash flow is the best example of qualitative information
The choice usefulness, decision model approach to accounting theory plays a significant supportive role in the utilization of qualitative traits or qualities required for information. The attributes that make the data supplied in financial statements valuable to users are referred to as qualitative qualities.
Fundamental qualitative traits that are desired in accounting information are produced by the demand for accounting information from investors, lenders, creditors, etc. Accounting information has six distinct qualitative traits.
To lean more about qualitative refer here:
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