Average inventory ($188‚000 + $208‚000)÷ 2 5. Average days to sell inventory (96.3) = 365 days ÷ Inventory turnover (3.79) 6. Average days to sell inventory (96.3) = 365 days ÷ Inventory turnover (3.79) 7. LIFO cost of goods sold ($22.2 billion) = FIFO cost of goods sold ($22 billion) + the increase in LIFO reserve ($0.2 billion) 8. An overstatement of ending inventory overstates current assets and understates cost of goods sold and therefore overstates net income this year‚ the understate net income of
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extraordinary items are not segregated in the income statement‚ while‚ under US GAAP‚ they are shown below the net income. Inventory -- Under IFRS‚ LIFO (a historical method of recording the value of inventory‚ a firm records the last units purchased as the first units sold) cannot be used while under U.S. GAAP‚ companies have the choice between LIFO and FIFO (is a common method for recording the value of inventory). Earning-per-Share -- Under IFRS‚ the earning-per-share calculation does not average
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is very capital intensive. The infrastructure consists of pre-coolers‚ temperature controlled warehouses‚ refrigerated transport etc Non- perishable Supply Chain The shelf life for the product is considerable (varying from 3-18 months). Typically FMCG/Processed
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Options:-Portion of debt through insurance company-Continue at 90 day terms-Factor receivables-Collateralize assets-Mortgage general purpose building-Independent Canadian Financing-Flat dividends-Payment Terms - accelerate receipt-LIFO / FIFOEvery available option has a positive and a negative aspect to it. Here we will decipher what option gives Padgett Paper Products the best financial structure‚ provides the most flexibility for continued growth‚ and reduces the risk for all parties involved.
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CIS 8060 Case Brief Grade Assessment Group Number/Name: The A-team Student Names: Paul Tran‚ Sukumar Pant‚ Vaibhav Choudhary Criteria Score and Comments Identifying Problems & Issues [15 points] • Use of case facts to diagnose core problems and issues • Effectiveness in framing the problem & issues Analysis of Issues [50 points] • Meaningful criteria identified for the analysis of problems and issues • Effective use of case data • Application of concepts and theories • Insightful
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Math for Business and Finance‚ HIT 105 Examination Number (06044200) ANSWERS TO EXAMINATION 1) Bank Balance 2‚950.00 Less outstanding ck# 124 (1‚080.00) Less outstanding ck# 138 (720.00) Add deposit in transit 3‚200.00 Adjusted Bank Balance 4‚350.00 Book Balance 4‚010.00 Less bank fee for checks (12.00) Less bank fee for NSF (18.00) Less ATM withdrawal (30.00) Add Broom note collected 400.00 Adjusted Book Balance 4‚350.00 2) 5E+7P = 85 P = 15-E 5E+7(15-E)
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IAS 2 Inventories This version includes amendments resulting from new and amended IFRSs issued up to 31 March 2004. The section “Changes in this Edition” at the front of this volume provides the application dates of these new and amended IFRSs and also identifies those current IFRSs that are not included in this volume. International Accounting Standard 2 Inventories (IAS 2) is set out in paragraphs 1-42 and the Appendix. All the paragraphs have equal authority but retain the IASC format of the
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AGW610 LESSON 3 CASE 3: Morgan Manufacturing Charles Crutchfield‚ manager of manufacturing operations at Morgan Manufacturing‚ was evaluating the performance of the company. Given his position‚ he was primarily interested in the health of the operating aspects of the business. At Morgan‚ the gross margin percentage was considered to be a key measure of operating performance; other measures considered to provide essential information on the health of business operations were pre-tax return on sales
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A Project report ON VISHAL MEGA MART AT KANPUR SUBMITTED TO SUBMITTED BY MR. MUNISH PARAMAR SUMIT KUMAR YADAV IAER’S PUNE INSTITUTE OF BUSINESS MANAGEMNET (APROVED BY AICTE MINISTRY OF HRD‚ GOVT.OF INDIA) PUNE 2013-2015 Declaration I Sumit Kumar Yadav hereby declare that this report is the record of authentic work carried out by me during the period from 24th December 2013 to 13th January 2014 and has not been submitted earlier to any university or institute
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ACC231 – Fall 2014 – Exam 2 Practice Preview - KEY Fall 2014 ⋅ Copyright © School of Accountancy‚ Arizona State University 1. What is the gain or loss on the sale of equipment that originally cost $20‚000‚ has $14‚000 of accumulated depreciation and is sold for $11‚000? a. $9‚000 loss b. $23‚000 loss c. $5‚000 gain d. $3‚000 loss 2. On February 1‚ 2014‚ Bob Inc.‚ has the following balances for accounts receivable and allowance for doubtful accounts: Accounts Receivable -- $330‚000; Allowance for
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