Answer:
The costs assigned to ending inventory based on the LIFO method under periodic inventory system are:
= $450.
Explanation:
a) Data and Calculations:
On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31.
Units Unit Cost Total Cost
Beginning inventory on January 1 320 $ 3.00 $960
Purchase on January 9 80 3.20 256
Purchase on January 25 100 3.34 334
Tota units available for sale 500 $1,550
Sales on January 26 350 $1,100
Ending inventory at January 31 150 $3.00 $450
Answer:
$1,593,535.83
Explanation:
Future Value of mortgage determines the future value of a mortgage after payments have been made, at a regular frequency, charged a regular rate of interest, compounded at payment dates.
DATA
PV = $1,500,000
N = 24
r = 0.04/12
PMT = $1250
FV =?
Solution
PV = (PMT/r)*[1 – 1/(1 + r)^N] + FV/(1 + r)^N
1,500,000 = (1250/(0.04/12)) * (1 – 1/(1 + 0.04/12)^24) + FV/(1 + 0.04/12)^24
1,500,000 = 28785.31353687 + 0.92323916 FV
FV = (1,500,000 - 28785.31353687)/ 0.92323916
FV = $1,593,535.83
Answer: 25,200 pounds
Explanation:
Your question is incomplete as it lacked the first part. I attached a completion that I found.
The company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs.
This means that in August, the Opening inventory will be 30% of what was is needed in August and the Closing Inventory will be 30% of what is needed in September.
Remember that each cushion requires 2 pounds of foam as stuffing.
Pounds required in August
= 12,000 cushions * 2
= 24,000 pounds
Opening Stock
= 30% * (12,000 * 2)
= 7,200 pounds
Closing stock
= 30% * ( 14,000 * 2)
= 8,400 pounds.
Foam needed to be purchased in August = Pounds required tonbe produced + Closing Stock - Opening Stock
= 24,000 + 8,400 - 7,200
= 25,200
25,200 pounds of foam are what The Porch Cushion Company needs to purchase in August.
Answer: A
Preferred share dividends are distributions of profits and not interest payments. Thus not tax-deductible.
Answer: Three items will appear being;
2. Sale of delivery truck at book value
5. Sale of a debt security held as an available-for-sale investment
6. Collection of loan receivable.
Explanation:
The Investment Section of the Cash Flow Statement contains activities related to investment such as the buying or selling of fixed assets and the buying or selling of other company stocks or bonds.
Out of the above therefore, there are 3 activities that would fall under this section of the Cash Flow Statement.
They are;
2. Sale of delivery truck at book value.
- This refers to the sale of a Fixed asset and as such it goes to the investment section.
5. Sale of a debt security held as an available-for-sale investment.
- As a debt security of another firm that was considered available for sale, this goes to the Investment Section as well.
6. Collection of loan receivable.
- Finally, collection of loan receivable means that the company loaned money to another company making it an investment related cash inflow as it is a long term Investment income source.
