Eloise Corp. uses the FIFO retail inventory method and reports the following information: Cost. Retail.
Purchases. $21,450. $28,000
Sales. $24,800
Net markups. $1000
Beginning inventory. $2100. $3000
Net markdowns. $400
What is the FIFO value of ending inventory for Eloise Corp.?
A. $5068
B. $5004
C. $5053
D. $5100

Colah company purchased $1.8 million of jackson, inc. 8% bonds at par on july 1, 2018, with interest paid semi-annually. when the bonds were acquired colah decided to elect the fair value option for accounting for its investment. at december 31, 2018, the jackson bonds had a fair value of $2.08 million. colah sold the jackson bonds on july 1, 2019 for $1,620,000. the purchase of the jackson bonds on july 1. interest revenue for the last half of 2018. any year-end 2018 adjusting entries. interest revenue for the first half of 2019. any entry or entries necessary upon sale of the jackson bonds on july 1, 2019. required: 1. prepare colah's journal entries for above transaction.

Your take on decision making process

Why do you think the compensation plans differ at the two firms? in particular, why do you think kaufmann’s pays commissions to salespeople, while parkleigh does not? why does parkleigh offer employees discounts on purchases, while kaufmann’s does not?