Business, 12.03.2020 18:56 destinywyatt9129

The inventory on hand at the end of 2016 for Reddall Company is valued at a cost of $94,000. The following items were not included in this inventory:

1. Purchased goods in transit, under terms FOB shipping point, invoice price $4,000, freight costs $200.

2. Goods out on consignment to Marlman Company, sales price $5,600, shipping costs of $200.

3. Goods sold to Grina Co. under terms FOB destination, invoiced for $1,900 which included $178 freight charges to deliver the goods. Goods are in transit.

4. Goods held on consignment by Reddall at a sales price of $2,700 which included sales commission of 20% of sales price.

5. Purchased goods in transit, shipped FOB destination, invoice price $2,100 which included freight charges of $190.

Determine the cost of the ending inventory that Reddall should report on its December 31, 2016, balance sheet, assuming that its selling price is 140% of the cost of the inventory.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 14:50

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of

Answers: 3

Answer

Business, 22.06.2019 17:50

The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends > a certain amount per visit at this supermarket. the expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of $95 and a standard deviation of $20. if the management wants to give free gifts to at most 10% of the customers, what should the amount be above which a customer would receive a free gift?

Answers: 1

Answer

Business, 22.06.2019 19:30

Which of the following constitute the types of unemployment occurring at the natural rate of unemployment? a. frictional and cyclical unemployment.b. structural and frictional unemployment.c. cyclical and structural unemployment.d. frictional, structural, and cyclical unemployment.

Answers: 2

Answer

Business, 23.06.2019 00:00

How did the change in textile production affect employment in spinning and weaving for adults and children?

Answers: 1

Answer

You know the right answer?

The inventory on hand at the end of 2016 for Reddall Company is valued at a cost of $94,000. The fol...

Questions