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2 years ago

Inventory records for Marvin Company revealed the following:

Business

1 answer:

pentagon [3]2 years ago

3 0

Answer:

B. $14,194.

Explanation:

FIFO means first in, first out. It means that the goods purchased first are the first to be sold.

The 1900 units or inventories sold would be taken from :

1. The beginning inventory = 900 x $7.14 = $6,426

2. Mar. 10 Purchase = 560 x $7.57 = $4,239.20

3. The remaining 440 units of inventory sold would be taken from the Mar. 16 Purchase = 440 x $8.02 = $3,528.80

Total = $14,194

I hope you

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2 years ago

CMS Corporation's balance sheet as of today is as follows: Long-term debt (bonds, at par) $10,000,000 Preferred stock 2,000,000

Dovator [93]

Answer:

$5,412,000

Explanation:

Given:

Long-term debt (bonds, at par):$10,000,000

Preferred stock :2,000,000

Common stock ($10 par): 10,000,000

Retained earnings: 4,000,000

Total debt and equity :$26,000,000

Coupon rate = 4%(semi annually)

Par value = $1000

YTM = 12%

Required:

Find the current market value of the firm's debt.

Find the bond price:

Bond price $= (C * (\frac{1 - (\frac{1}{(1+i)^n})}{i}) + (\frac{m}{(1+i)^n})$

$= (C * (\frac{1 - (\frac{1}{(1+0.06)^2^0})}{0.06}) + (\frac{1000}{(1+0.06)^2^0})$

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Current market value of debt = number of bonds × bond price

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Answer:

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