Answer:
See below
Explanation:
1. Corrected amounts for 2020 cost of goods sold
= Cost of goods sold for 2020 - December 31, 2019 ending inventories overstated + December 31, 2020 ending inventories overstated
= $1,322,900 - $106,470 + $36,820
= $1,253,250
2. Correct amounts for December 31, 2020 retained earnings
= Retained earnings December 31, 2020 - December 31, 2020 ending inventories overstated
= 4,854,000 - $36,820
= $4,817,180
C is the answer
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Answer:
Long 5 November fates for wheat today, counterbalance position on September 2020, purchase wheat in the spot showcase in September 2020.
Explanation:
The risk included is upward development in the value, the helpful situation in prospects would be taking long position. Since, the fates are accessible for November month, take long situation on November and balance the situation in September by taking short situation for November month and purchase the wheat in the spot market.
Answer:
At 12 cases the stein beer should reordered by him.
Explanation:
The reorder level is that level in which the company setup a new manufacturing unit so that they can fulfill the needs of the customers and attains the customer satisfaction as much as they can.
For computing the reorder level of the stein beer, the computation is shown below:
Reorder level = Daily unit sales ×elivery lead time
= 4 × 3 d
= 12 cases
The other cost like ordering cost, carrying cost or holding cost, per unit cost is irrelevant while computing the reorder point. Therefore, it is not considered in computation part.
Thus, the reorder level is 12 cases
Hence, at 12 cases the stein beer should reordered by him.
