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Veronika [31]
3 years ago
6

The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands).

2016 2015 Cost of sales $1,517,397 $1,529,527 Inventories, net 585,764 546,745 LIFO reserve 4,345 4,094 If Caleres had used the FIFO method of inventory costing, 2016 COGS would have been: A. $1,517,648 thousand B. $1,551,301 thousand C. $1,553,198 thousand D. $1,517,146 thousand E. None of the above
Business
1 answer:
creativ13 [48]3 years ago
4 0

Answer:

A. $1,517,648 thousand

Explanation:

The computation of the cost of goods sold using the FIFO method is shown below:

= Cost of goods sold under LIFO - (Ending LIFO reserves - Beginning LIFO reserves)

= $1,517,397 - ($4,345 - $4,094)

= $1,517,648

We simply applied the above formula so that the cost of goods sold using the FIFO method could come

All other information i.e given is not relevant. Hence, ignored it

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The following information is available from the current period financial statements: Net income $150,000 Depreciation expense 28
Anit [1.1K]

Answer:

$141,000

Explanation:

Given the above information, the net cash flow is computed as shown below

= Net income + Depreciation expense - Increase in accounts receivables - Decrease in accounts payable

= $150,000 + $28,000 - $16,000 - $21,000

= $141,000

Therefore, the net cash flow from operating activities using the indirect method is $141,000

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3 years ago
Which is better,FBISD or Alief ISD (only 1 answer)
pochemuha
Alief ISD is better there you go
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Specific data such as age, income , family size , and accupation used for marketing purposes, is called
maks197457 [2]

it is called market research


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3 years ago
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Kay [80]

Answer:

I think the question is incomplete

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2 years ago
Rosewood Company made a loan of $8,600 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rate
tatuchka [14]

Answer:

Year 1 = $387

Year 2 = $516

Explanation:

Loan has been granted on 1 April in Year 1 i.e. for a period from 1 April to 31 December = 9 months.

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Therefore interest revenue to be reported by Rosewood Company will be as follows

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