Answer:
COGS overstated for 5,000
Explanation:
<em>The COGS will be overstated for the same ammount,</em> that is because of the inventory identity.
If ending Inventory has a problem, it will be transferred to COGS as well to equalize the formula
If ending Inventory is understated it means their alue is less than it's real value,
so to balance the formula COGS need to be overstated.
Answer:
$26,200
Explanation:
Current gain = Fair market value of the property - Basis of qualified property = $26,200 - $21,833 = $4367. Thus, the amount of Grady current gain is $4,367
We now determine the basis that Gredy takes for the share of Eadie stock
Basis = Original basis of qualified property + Current gain
Basis = $21,833 + $4,367
Basis = $26,200
Thus, basis that Gredy takes for the share of Eadie stock is $26,200
The answer to this is 0.08 hope that this helped
Answer:
$5,490
Explanation:
Computation for the equivalent units for conversion costs
To complete beginning work in process inventory 360
[400*(1-10%)]
Units started and completed 4,500 (4,900-400)
Ending work in process inventory 630 (900*70%)
Equivalent units for Conversion costs $5,490 units
Therefore the equivalent units for conversion costs is $5,490
