Acl Ch. 4 Essay

Inventory Method: The inventory amount for the year ended 12/31/2016 is $14,760,000,000 which is an $759,000,000 increase from the previous year. CVS uses the lesser of the weighted average cost or market value when determining the value of inventory. Inventory is verified for accuracy by regularly doing physical counts in all locations. Between physical counts, CVS uses sales results from previous years to accrue the estimated physical loss. These estimates are determined for each individual store and warehouse separately to ensure the most accurate information possible is reported. CVS has decided to use a new method available after annual periods beginning after 12/15/2016 known as the lower of cost and net realizable value to replace using

1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?

This discussion is based on case study of imposition of values by a counselor. Mary Ann is a 19 year old college student, who sought counseling at the college counseling center due to her depressive behavior and desire to do better in school work. She is not expressing suicidal feelings but rather she expressed her thought of disappearance and not to exist. She spoke proudly about her brother who is pursuing education in the seminary, and states her desire to work in the church but eventually feels less energized to do so. Mary has a strong believes in her Christian and Religious faith. She also described her family as being religious and that faith is very important in their lives.

13. Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Eddy Auto Supplies Balance Sheet December 31, 2014 Cash $84,000 Accounts payable $110,000 Accounts receivable $80,000 Salaries and wages payable $20,000 Inventory $140,000 Mortgage payable $180,000 Prepaid insurance $60,000 Total liabilities $310,000 Stock investments $170,000 Land $190,000 Buildings $226,000 Common stock $240,000 Less: Accumulated Retained earnings $500,000 depreciation ($40,000) $186,000 Total

2. For the most recent year, what is the amount of inventory in the balance sheet? What does this amount represent?

Box 8. This amount is not included in boxes 1, 3, 5, or 7. For

5.    Prepare any necessary adjusting entries to reflect the Inventory count at year end. These must be hand written.

purposes. Its beginning inventory for the current year was $8,000,000. Its ending inventory for the current year

Your sister owns a small clothing store. During a conversation at a family dinner, she mentions her

inventory or product samples (see instructions) . . . . . . . . . . . . . . . .

6.     Unit_of_Measure - Should be in its own table with an ID and a foreign key added to the Inventory table.

Review the following example on how to perform the inventory turnover calculation, which shows you how to complete the table.

On June 1, 2006, the Luttman and Dowd Company sold inventory to the Ushman Corporation for $400,000. Terms of the sale called for a down payment of $100,000 and four annual installments of $75,000 due on each June 1, beginning June 1, 2007. Each installment also will include interest on the unpaid balance applying an appropriate interest rate. The inventory cost Foster $150,000. The company uses the perpetual inventory system.

The determination of these values requires you to add columns to the Inventory Analysis worksheet. Mr. Milligan asks you to use the worksheet provided. As Mr. Milligan will use the Inventory Analysis worksheet during a presentation, he wants the worksheet to have a professional appearance. To enhance the worksheet’s appearance, you include an appropriate header and format to the worksheet, column, and row labels. The header should display the name of the business, the name of the worksheet, and the current date. As you construct the worksheet, you use the currency format for all columns containing dollar values. Also, for any column that contains a percentage, you

Once they have their inventory under control, the purchasing department should complete a very detailed cost analysis to determine the total inventory cost, including all aspects and hidden fees. Once they have the