ACC211
Homework Chapter 8
Click Link Below To Buy:
Contact Us:
Hwcoursehelp@gmail.com
Brief Exercise 8-8
 |
Midori Company had ending inventory at end-of-year prices of
$138,500 at December 31, 2013; $165,771 at December 31, 2014; and
$181,366 at December 31, 2015. The year-end price indexes
were 100 at 12/31/13, 113 at 12/31/14, and 118 at
12/31/15.
Brief
Exercise 8-8
|
Brief Exercise 8-9
Arna, Inc. uses the dollar-value LIFO method of computing
its inventory. Data for the past 3 years follow.
|
 |
||||
Brief
Exercise 8-9
|
2014 inventory at base amount
($22,363 ÷ 1.07)
|
$20,900
|
||||
|
2013 inventory at base amount
|
(20,000
|
)
|
|||
Exercise 8-10
|
|
Exercise 8-2
|
|
|
 |
Your answer is correct.
|
In your audit of Jose Oliva Company, you find that a
physical inventory on December 31, 2014, showed merchandise with a cost of
$449,800 was on hand at that date. You also discover the following items
were all excluded from the $449,800.
Exercise
8-2
|
Inventory per physical count
|
$449,800
|
The goods
in transit from a vendor of $83,150, shipped f.o.b. destination, are properly
excluded from the inventory because the title to the goods does not pass to
Oliva until the buyer (Oliva) receives them.
Exercise 8-15
|
|
|
|
|
|
|
|
|
|
|
Your answer is correct.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
No comments:
Post a Comment