Beck Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2:
Units Unit Cost
Inventory, December 31, prior year 6,300 $13
For the current year: Purchase, March 5 18,300 11
Purchase, September 19 9,300 7
Sale ($30 each) 8,500
Sale ($32 each) 15,300
Operating expenses (excluding income tax expense) $393,000
Required:
Prepare a separate income statement through pretax income that details cost of goods sold for
a. Case A: FIFO
b. Case B: LIFO.
Answers: 2
Business, 22.06.2019 01:20
For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. complete parts (a) through (c) below. x (cash prize, $) p(x) grand prizegrand prize 0.000000008860.00000000886 200,000 0.000000390.00000039 10,000 0.0000016950.000001695 100 0.0001582930.000158293 7 0.0039114060.003911406 4 0.0080465690.008046569 3 0.012865710.01286571 0 0.975015928140.97501592814 (a) if the grand prize is $13 comma 000 comma 00013,000,000, find and interpret the expected cash prize. if a ticket costs $1, what is your expected profit from one ticket? the expected cash prize is $nothing.
Answers: 3
Business, 22.06.2019 12:00
Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.
Answers: 2
Business, 22.06.2019 17:30
One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.
Answers: 2
Beck Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31...
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