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4 years ago

The specific identification method of costing inventories is used when the

Business

2 answers:

Zolol [24]4 years ago

5 0

Answer:

Explanation: The specific identification method of costing inventories is used when finding out the cost of the ending inventory.

This method is used to identify when an item is bought and sold and what items are remaining in the store and how to allocate the cost price of item bought at a particular point in time. This is mainly useful when cal calculating the ending inventory.

Bumek [7]4 years ago

3 0

Answer:

company sells a limited quantity of high-unit cost items

Explanation:

Specific identification is a method of finding out ending inventory cost and requires detailed physical count in order for that company to know how exactly many of each goods that was brought on specific dates remained at year end inventor.

Specific identification inventory valuation can be used when a company sells a limited quantity of high-unit cost items. It is often used for larger items such as furniture or vehicles. It is used for items that usually have widely differing features, and are of limited quality and have high costs associated with it distinguished features.

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Delta Distributors has accounts receivable of $2,750,000 and average daily credit sales of $118,280. The firm offers credit term

liq [111]

Answer:

The firm's accounts receivable period is 23.25 days

Explanation:

Accounts receivable period = 365 / Account receivable turnover ratio

When Account receivable turnover ratio = Net sales / Account receivables

Account receivable turnover ratio = 118,280 * 365 days/ 2,750,000

Account receivable turnover ratio = 15.698

Hence, Account receivable period = 365 / 15.698

Account receivable period = 23.25 days

3 0

3 years ago

Which would be an example of a change in culture due to conflict?

Inessa05 [86]

An example of cultural conflict is the debate over abortion. Ethnic cleansing is another extreme example of cultural conflict. Wars can also be a result of a cultural conflict; for example the differing views on slavery were one of the reasons for the American civil war.

4 0

3 years ago

Determine the maximum amount of charitable deduction for each of these contributions ignoring the AGI ceiling on charitable cont

sergejj [24]

Answer:

Complete question is attached in form of image.

a). Maximum amount of charitable deduction for Cash Contrbutions = 7650 + 5450

= $ 13100

a). Maximum amount of charitable deduction for Property Donations

= 15250 + 18375

= $ 33625

The amount of deduction for contribution to American Heart Association will be the amount equal to the cost of antique painting given to the american heart association.

The amount of deduction for contribution to First Methodist Church will be the amount equal to the FMV of Coca-Cola stock given to the first methodist church.

FMV stands for Fair market value.

Maximum amount of charitable deduction for Cash contribution = $ 13100 and Maximum amount of charitable deduction for Property donation = $ 33625.

7 0

4 years ago

Looking forward to next year, if Digby’s current cash balance is $19,743 (000) and cash flows from operations next period are un

Westkost [7]

Answer:

The correct answer is B)

Explanation:

We know what he just spent a total of $340,000 on shares of stock, long-term debt and , dividends respectively. This means he is left with a cash balance of $16, 403, 000.

If he purchases an assets at a cost of $15,000,000 he ls left with a little above $1.4 Million in cash.
If the sells $5 Million of the company's assets, his cash balance goes up by that amount. No need for a loan.
If he liquidates the entire inventory, it only translates to more cash. So no need for a loan.
However, if he settles $20 Million in debt, he is left with a deficit of $3,597,000 and must take up a loan immediately to stay afloat or be consumed by the weight of operating expenses.

Cheers!

7 0

3 years ago

Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of $1,000 Par Bond (Zero-Coupon) 1

Lynna [10]

Answer:

6.997%

Explanation:

To find the answer, we use the Yield to Maturity (YTM) for a Zero Coupon Bond:

YTM = [(F/PV)^1/n] - 1

Where:

F: Face/Par value (the question is telling us that the par value of a 3-year bond is $816.367)

PV: Present Value (which is the same as the price: $1,000)

n: number of periods (in this case 3 years because the coupon is annual)

Now, we plug the amounts into the formula:

YTM = [($1,000/$816.37)^1/3]-1

YTM = 6.997%

7 0

3 years ago