Concord Corporation uses the periodic inventory system. For the current month, the beginning inventory consisted of 478 units that cost $70 each. During the month, the company made two purchases: 715 units at $73 each and 363 units at $75 each. Concord Corporation also sold 1203 units during the month. Using the average cost method, what is the amount of ending inventory

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

Based on what you learned about time management which of these statements are true