#11 …mastering inventory in managerial accounting


InventoryB10. YiCo buys 800 facts of tennis balls listed at $130 per fact and for whichYiCo is given a 15% magnitude abatement. YiCo sells 70% of the facts for specie.The require of the unsold commodities is . ..a. $15,600 b. $31,200c. $26,520d. $77,35011. JaCo uses the interrupted process and memorials commodities escheatments atnet. Its 20X4 ending schedule is $69,000. During 20X5, JaCo escheatmentscommodities for $878,000, after a while freight-in of $11,000. Escheatment profits are$17,000, escheatment abatements lost are $4,000, and the require of commoditieson artisan at year end is $91,000. At year end, JaCo memorials the followingentry:a. Ending Inventory91,000Purchase Returns17,000Cost of Goods Sold850,000Purchases878,000Freight-In11,000Beginning Inventory69,000b. Ending Inventory91,000Purchase Returns17,000Cost of Goods Sold846,000Purchase Discounts Lost4,000Purchases878,000Freight-In11,000Beginning Inventory69,000e. Ending Inventory91,000Purchase Returns17,000Cost of Goods Sold854,000Purchases878,000Freight-In11,000Beginning Inventory69,000Purchase Discounts Lost4,000d. Beginning Inventory69,000Purchase Returns17,000Cost of Goods Sold894,000Purchases878,000Freight-In11,000Ending Inventory91,000

Show past