ACC211 Homework Chapter 8

Published on January 2018 | Categories: Business & Leadership | Downloads: 30 | Comments: 0
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ACC211 Homework Chapter 8 Click Link Below To Buy: http://hwcampus.com/shop/acc211-homework-chapter-8-17/ Contact Us: [email protected] 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 Your answer is correct. 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 Weighted average-cost per unit $ 8.91 Exercise 8-15 Beginning inventory January 5, 2014 January 25, 2014 February 16, 2014 March 26, 2014 Your answer is correct. Exercise 8-15

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ACC211 Homework Chapter 8 Click Link Below To Buy: http://hwcampus.com/shop/acc211-homework-chapter-8-17/ Contact Us: [email protected] 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 Your answer is correct. 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 Weighted average-cost per unit $ 8.91 Exercise 8-15 Beginning inventory January 5, 2014 January 25, 2014 February 16, 2014 March 26, 2014 Your answer is correct. Exercise 8-15

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