Home / Questions / Laura Badora Company has been using LIFO inventory. The company is required to disclose th
Laura Badora Company has been using LIFO inventory. The company is required to disclose the replacement cost of its inventory and the replacement cost of its cost of goods sold on it annuals statements. Selected data for the year ended 2011 are as follows:
Ending accounts receivable, less allowance for doubtful accounts of $25,000 $ 480,000
Ending inventory, LIFO (estimates replacement $900,00) 570,000
Net Sale 3,650,000
Cost of goods sold (estimated replacement cost $3,150,000) 2,850,000
REQUIRED:
a. Compute the days’ sales receivable
b. Compute the days’ sales inventory, using the cost figure
c. Compute the days’ sales inventory, using the replacement cost for the inventory and the cost of goods sold.
d. Should replacement cost of inventory and cost of goods sold be used, when possible, when computing days’ sales in inventory? Discuss.
Dec 06 2019 Read more Less More
What are the sources of information and the factors leading to high and low information search?
Nov 26 2019A firm that purchases electricity from the local utility is considering installing a steam generator. A large generator costs $280,000 whereas a small generator costs $14...
Apr 06 2020Is there such a thing as a “good virus”? Explain why or why not. Consider both bacteriophages and viruses of eukaryotic organisms.
Apr 01 2020Igor owns a movie theater. His total costs are $150,000 per year, and his fixed costs are $65,000. This means that his variable costs are $70,000 $235,000. $150,000. O $8...
Jun 02 2020At ARCO Transportation, a $1 billion division of Atlantic Richfield, employees are hired, promoted, and appraised according to how they fulfill the performance dimensions...
May 28 2020Chapter 9 discusses brand image and product positioning. Reflect on Hello Kitty as a brand and then answer the following: a. Describe Hello Kitty’s brand image. b. Based ...
May 10 2020Interpersonal Communication- Everyday Skills Chapter 11Build your communication skills further by completing the following activities here or online.1. Measuring the Stre...
Aug 22 2020Describe the relationships among performance appraisal and selection, training, and development.
May 13 2020Tennessee Subway Corporation is a natural monopoly. The graph shows the market demand curve and the firm's marginal cost curve. The monopoly is unregulated and maximizes ...
Apr 18 2020Description Case studies are used to enable you to apply new concepts use the tools you have mastered and improve the technical skills you have attained Through the indiv...
Feb 13 2020Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.