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Lina20 [59]
4 years ago
7

Presented below is information related to Kingbird Corporation. Price Index LIFO Cost Retail Inventory on December 31, 2020, whe

n dollar-value LIFO is adopted 100 $34,200 $77,200 Inventory, December 31, 2021 110 ? 97,240 Compute the ending inventory under the dollar-value LIFO method at December 31, 2021. The cost-to-retail ratio for 2021 was 60%.
Business
1 answer:
erica [24]4 years ago
7 0

Answer:

Ending LIFO Value as on 31st dec,2021 = $54,924

Explanation:

Year Index LIFO Cost REtail

2020 100 $34,200 $77,200

2021 110 ? $97,240

Cost to Retail ration 2021 = 60% .

Hence TOTAL Cost of the inventory is = $58,344

LIFO Cost of inventory shall be calculated as follows

Inventory at base year prices = 58,344/110*100 = 53040.

Base year layers = 34,200+18,840

LIFO Value = 34,200*100/100 +18840*110/100

Ending LIFO Value as on 31st dec,2021 = $54,924

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nikitadnepr [17]

Answer:

Software as a Service (SaaS)

Explanation:

Software as a service (SaaS) allows users connected to cloud-based applications over the Internet and use them. Some common examples are email, calendars and office tools (such as Microsoft Office 365).

SaaS offers a comprehensive software solution that is acquired from a cloud service provider through a pay-per-use model. It is possible to rent the use of an application for the organization and users connect to it through the Internet, usually with a web browser. All underlying infrastructure, middleware, software and application data are located in the provider's data center. The service provider manages the hardware and software and, with the appropriate service contract, will also guarantee the availability and security of the application and data. SaaS allows an organization to get started and can run applications with a minimal initial cost.

3 0
4 years ago
On January 1, Andrea reviews her investment portfolio and finds out that she has had a very profitable year. To offset some of h
butalik [34]

Answer:

$5,000 realized, but not recognized loss

Explanation:

Based on the above information given we were told that two years earlier She purchased some shares for the amount of $15,000 in which in order for her to offset few of her gains she sells those 100 shares of Bear Corporation for the amount of $10,000 making her to REALIZED the amount of $5,000 ($15,000-$10,000) reason been that a loss will be realized instantly in a situation were an assets is sold out for a loss.

Therefore the tax consequences to Andrea this year will be the amount of $5,000 Realized, but not recognized loss.

8 0
3 years ago
MC Qu. 128 Leeks Company's product has... Leeks Company's product has a contribution margin per unit of $13.57 and a contributio
Ray Of Light [21]

Answer:

The price of the product is $59

Explanation:

Contribution margin is the net of the selling price and variable cost per unit. Contribution margin ratio is the ratio of contribution per unit to selling price per unit. As given below

Contribution margin ratio = Contribution margin per unit / Selling price per unit

23% = $13.57 / Selling price per unit

Selling price per unit = $13.57 / 23% = $59

3 0
3 years ago
Lemon N' Honey is a juice manufacturing company in the United States. It exports its products to Australia, licenses to China, h
VARVARA [1.3K]

Answer: International division

Explanation:international disvision is responsible for world wide activities of a company which accounts for the specialization of activities in different countries whether in production or delivery of services. The concept suggests that the spread of markets and production processes world-wide to cultivate international engagement, promote global awareness, and prepare companies for a diverse and interconnected world is carried out by the international division that oversees it.

International division aims to -Support international research, and coordinates related outreach opportunities of it's good or services.

-Serves as a gateway for companies to internationalize their experience, foster their development as global citizens and gain access to high-quality experiences .

-Is a central resource for accessible international knowledge and cultural information of it's productoon process and as a focal point on increasing global competitiveness.

5 0
3 years ago
S&L Financial buys and sells securities which it classifies as available-for-sale. On December 27, 2021, S&L purchased C
mina [271]

Answer:

2021= $0 gain/loss

2022= $3,500 gain

Explanation:

S and L financial buys and sells securities

On December 27, 2021 S&L purchased coca-cola bonds at par for $965,000

The bonds were sold for $968,500 at January 3 2022

At December 31, the bonds had a fair value of $960,000

Since the amount of fair value has reduced greatly below the value at which it was bought on December 31 then, this implies that there will be no gain/loss that will be recognised in the earnings

Therefore,

The Pretax amount that S&L include in its net income as a result of this investment in 2021 is

= $0 gain/loss in earnings

The pretax amount that S&L include in its net income as a result in this investment in 2022 is

= $968,500-$965,000

= $3,500 gain

4 0
3 years ago
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