1. Fill in the table attached. Determine the cost of merchandise sold for each sale and the inventory balance after each sale. Utilize FIFO. Jan 1 - Inventory is 6,000 units at $20 Jan 2 - Sale of 500 units for $32.50 each
Jan 19 – Purchase of 2500 units at $24.25 each Jan 25 – Sale of 800 units for $33.90 each
Jan 30 - Purchase 1000 units at $22

2. Fill in the table. (same format at picture). Determine the cost of merchandise sold for each transaction above. Utilize LIFO.

3. Determine the cost per unit utilizing the weighted Average Cost method for inventory on Jan 30th from the data above.

The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.

If canada has a surplus of paper products produced but its consumers demand more cleaning solutions, and the us has an abundance of cleaning solutions but consumers are demanding more paper products, how would trade benefit both countries? trade would assist both countries by creating excess demand. trade would assist both countries by strengthening their natural resources. trade would assist both countries to both reduce excess supply and satisfy market demand.

On february 10, 2014, after issuance of its financial statements for 2013, higgins company entered into a financing agreement with cleveland bank, allowing higgins company to borrow up to $6,000,000 at any time through 2016. amounts borrowed under the agreement bear interest at 2% above the bank's prime interest rate and mature two years from the date of loan. higgins company presently has $2,250,000 of notes payable with star national bank maturing march 15, 2014. the company intends to borrow $3,750,000 under the agreement with cleveland and liquidate the notes payable to star national bank. the agreement with cleveland also requires higgins to maintain a working capital level of $9,000,000 and prohibits the payment of dividends on common stock without prior approval by cleveland bank. from the above information only, the total short-term debt of higgins company as of the december 31, 2013 balance sheet date is