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shtirl [24]
2 years ago
9

Assuming that periodic inventory records are kept, the ending inventory on a LIFO basis is Group of answer choices $16,440. $17,

160. $17,880. $16,640. None of these answer choices are correct.
Business
1 answer:
Troyanec [42]2 years ago
7 0

Answer:

$16,440.

Explanation:

Please find attached the data used in answering this question

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

the ending inventory would consist of earlier purchased goods

total sales is 20800

total purchases = 26,000

ending inventory = 26,000 - 20800 = 5200

this price of the ending inventory = 3200 x 3.2) + (2000 x 3.1) = $16,440.

                               

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The owner of a bicycle repair shop forecasts revenues of $160,000 a year. Variable costs will be $50,000, and rental costs for t
elena55 [62]

Answer and Explanation:

Revenue                              $160,000

Rental Costs                      $30,000

Variable Costs                      $50,000

Depreciation                      $10,000

Profit before tax              $70,000

Tax(35%)                              $24,500

Net Income                      $45,500

Operating cash flow

a) Dollars in minus dollars out

Revenue ? rental costs ? variable costs ? taxes = $160000 -$30000-$50000-$24,500 = $55,500

b) Adjusted accounting profits

Operating cash flow = Net income + depreciation = $45,500 + $10,000 = $55,500

c) Add back depreciation tax shield

Operating cash flow = [(Revenue ? rental costs ? variable costs) × (1 ? 0.35)] + (depreciation × 0.35)]

= ($160,000-$30000-$50,000)*0.65 + $10,000*0.35 = $55,500

Yes, the above approaches result in the same value for cash flow

4 0
3 years ago
What will happen to the current ratio if current assets increase, while everything else remains unchanged?
Nana76 [90]

The current ratio will increase if current assets increase, while everything else remains unchanged.

This is further explained below.

<h3>What is the current ratio?</h3>

Generally, A liquidity ratio that evaluates a company's capacity to pay short-term debts or those that are due within the next year is called the current ratio.

It explains to investors and analysts how a business may get the most out of the current assets that are shown on its balance sheet in order to pay off its current debt and any other payables.

A current asset is defined as any asset that a company can reasonably expect to sell, consume, or deplete through the normal operations of the business inside the current financial year or an operating cycle, or an economic year.

In other words, a current asset is an asset that will be sold, consumed, or exhausted.

In conclusion, If current assets continue to grow while everything else stays the same, the current ratio will continue to show an upward trend.

Read more about current assets

brainly.com/question/14287268

#SPJ1

5 0
1 year ago
CPI is calculated by dividing the ____ using ____by the ____using ____ and multiplying by 100.
Anika [276]

Explanation:

The CPI stands for Consumer Price index . It refers to the change in the price level with respect to the goods and services available in the market.

The CPI is calculated below

= Given the cost of market goods and services using the price of given year by the Given cost of market goods and services using the price of a base year and then it would be multiplied by 100

While the GDP Deflator deals with the price of all goods and services that are produced in domestic.

7 0
2 years ago
On January 1, year 1, Dave received 1,000 shares of restricted stock from his employer, RRK Corporation. On that date, the stock
butalik [34]

Answer:

Taxes on January 1, year 1= $1400

Taxes on Dec 31, year 4=$3300

Explanation:

The question relates to 'EQUITY GRANT', which is some sort of compensation given to somebody, especially/specifically to employees of an entity provided that certain conditions/vesting requirements are satisfied by the employee.

Now on January 1, year 1 Dave has received 1000 shares, for him the shares received is treated is income for Dave, as the shares are being offered against certain services rendered by Dave to RRK corporation. So on January 1 Dave would record income and pay income tax as follows:

Value of shares on Jan 1/ income= 1000×$7

Value of shares on Jan 1/ income= $7000

<em>Lets assume income tax is 20% and marginal tax rate is 10%,</em> the tax consequences would be as follows:

TAXES = $7000×20%

TAXES = $1400

There will be no tax consequences at the vesting date and at the end of year 4 (the date when he sells them) there will be tax consequences of $4000.

At year 4 = 1000×$40

Amount realized= $40000 -$7000

Taxes at marginal rate= $33000×10%

Taxes at marginal rate= $3300

(Note: $7000 is subtracted because it's already present in $40000).

8 0
3 years ago
Headland Furniture Company started construction of a combination office and warehouse building for its own use at an estimated c
kvasek [131]

Answer:

a) $425,320,48

b) $177,494,02

Explanation:

The avoidable interest = $425,320,48

The Depreciation Expense= $177,494,02.

Kindly go through the attached file to see the step by step approach that yielded the answers from the question.

7 0
3 years ago
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