CHAPTER 7 Inventory LEARNING OBJECTIVES 1. Identify what items and costs should be included in inventory and cost of goods sold. 2. Account for inventory purchases and sales using both a perpetual and a periodic inventory system. 3. Inventory is composed of goods held for sale in the normal course of business. Cost of goods sold is the cost of inventory sold during the period. For a manufacturing firm‚ the three types of inventory are raw materials‚ work in process‚ and
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INDIVIDUAL QUESTIONS/PROBLEMS DUE FRIDAY - POST THESE TO THE MAIN CLASSROOM FORUM [please don’t start answering these DQs until Tuesday the start of the class‚ thanks] 1. What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion‚ which financial statement is the most important? Explain why. * 2. How would the financial statements be useful to managers and employees? How would
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I think i should post it here so that some1 else may get helped too. Here you go: ----------------------------------------------------------- I obtained my degree of Bachelors of Science in Electrical Engineering‚ with communications as a major from XYZ University of Engineering and Technology‚ in October 2004. I have been registered as a professional engineer with Pakistan Engineering Council (PEC). After graduation‚ I joined XYZ Pvt. Ltd as an Engineer in CDMA department. XYZ had been awarded
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Ronice M. Bruce Week 3_Course Project A - CASE STUDY ACCT 505- Prof Main January 26‚ 2013 Springfield Express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: Number of seats per passenger train car 90 Average load factor (percentage of seats filled) 70% Average full passenger fare $160 Average variable cost per passenger $70 Fixed operating cost per month $3‚150‚000 a. What is the break-even point in passengers and revenues
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William H Hill EDU-225 01/12/2013 Instructor Sharon Unwrapping the Technology Standards While in the process of unwrapping the technology standards one must acknowledge that technology as we know it has its advantages and disadvantages. Technology should enhance learning. There is no value in just having access to it but more important how it is used. In this report the discussion will concern the technologies that are available to students K-12 to facilitate teaching‚ learning
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The Brain and Behavior Essay BEH/225 June 15‚2015 University of Phoenix Axia College The Brain and Behavior Essay The human brain is a complex and sophisticated organ. Understanding the function of the brain is often limited to the understanding of the brains areas with regard to how these areas respond to stimuli or in cases of damage. Much of the understanding of the brain is rooted in observation of damaged brains and their correlation of impaired function with specific areas of damage
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of ACC 225 Week 9 Capstone Discussion Question you will find the next information: An important system is starting a reality system known as "The Accountant‚" Several current accounting graduates will be contending for a position in a nationwide accounting organization. What would make somebody a great applicant for "The Accountant?" Explain three problems the applicants must complete on the system‚ utilizing as much info as can. The difficulties must check applicants’ abilities in problems to subjects
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UNIVERSITY OF SOUTH AUSTRALIA UNISA BUSINESS SCHOOL SCHOOL OF COMMERCE at er ia ls fo rU N IS A ACCT 2005 (Study Period 2‚ 2014) Study guide FA 2 20 14 M FINANCIAL ACCOUNTING 2 Course coordinator Sue McGowan A IS N rU fo at er ia ls M 14 20 2 FA © University of South Australia 2014 IS A CONTENTS N HOW TO USE THIS STUDY GUIDE rU INTRODUCTION INTRODUCTION AND OVERVIEW OF REPORTING ENVIRONMENT TOPIC 2:
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CheckPoint Heredity and Hormones Behavior from person to person can vary significantly. Indicators of human behavior include aggressiveness‚ intelligence‚ and tendencies towards violence. Hormones and genes are directly responsible for these behavioral outcomes. Throughout one’s lifetime‚ hormones have defined clear roles. In contrast‚ heredity is affected by genes and genes are affected by the environment and are able to change in regard to the situation the environment presents. Because of
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Asignación 1 acct. 1162 Pág.870 E19-3 a. Identify each of the costs as direct materials (DM)‚ direct labor (DL)‚ manufacturing overhead (MO)‚ or period costs (PER). Direct materials Materials used in product. Direct labor Labor cost of assembly-line workers Manufacturing overhead Depreciation on plant‚ property taxes on plant‚ delivery expense‚ factory supplies used. Period cost Advertising expense PER Property taxes on store. b. Explain the difference in
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