Brincks BA323 Quiz Ch8
Fundamentals of Financial Management, Concise
Brigham and Houston
09th Edition, 10th Edition, and 11th Edition
Check figures (only) for the Chapter 8 quiz.
Check figures (only) for the Chapter 8 quiz.
This is the easier of two versions. The only info given is sales commission %, inventory shipped, amount sold at cost and retail. Asks what amount of inventory the company reports at year-end?
Your numbers will vary.
In Year 2, the company correctly recorded its ending balance of the inventory account. Which one is true?
Your numbers will vary.
What should the purchase be recorded (net method)?
Your numbers will vary.
Given financial data for two years, determine the company’s gross profit in the newer year, the turnover ratio for a newer year, and the average days in inventory.
Your numbers will vary.
Given the ending inventory along with the cost index, they ask you to determine the dollar-value LIFO inventory valuation at year-end.
Your numbers will vary.
Given the cost of merchandise purchased along with the amount it was sold for, they ask you to prepare journal entries to record the purchase and sale under both perpetual and periodic inventory systems.
Your numbers will vary.
Given the inventory layers including unit price and purchases, they ask you to determine the cost of goods sold for the year along with the LIFO liquidation profit.
Your numbers will vary.
Given ending inventories with costs and indexes, they ask you to determine the inventory.
Your numbers will vary.
They ask you to record each transaction that is given.
Your numbers will vary.