Terry Company had January 1 inventory of $100,000 when it adopted dollarvalue LIFO. During the year, purchases were $600,000 and sales were$1,000,000. December 31 inventory at year-end prices was $143,360, and the price index was 112 (Price Index for base year = 100). What is Terry’s ending inventory and gross profit, respectively?a. $131,360 and 428,000b. $128,000 and 443,460c. $131,360 and 431,360d. $143,360 and 443,460

Beginning inventory was $28,000 and ending inventory was $22,000. Cost of goods sold was $190,000 and net sales were $360,000. Inventory turnover for the year was closest to: O 7.6 8.64 6.79 14.4

Tarmac Co made sales of $1,930,200 during the year ended 31st March X3. Inventory decreased by $132,000 over the year and all sales were made at a mark-up of 45%.What was the cost of purchases during the year, to the nearest $100?

Wildhorse Company had a January 1 inventory of $295000 when it adopted dollar - value LIFO. During the year, purchases were $1820000 and sales were $3080000. December 31 inventory at year-end prices was $371520, and the price index was 108. What is Wildhorse Company's gross profit? $1312920 $1336520 $1308020 $2732080

Crane Company had a January 1 inventory of $298000 when it adopted dollar-value LIFO. During the year, purchases were $1760000 and sales were $3040000. December 31 inventory at year-end prices was $390880, and the price index was 112. What would be reported for Crane Company's ending inventory? a) $355120 b)$349000 c) $390880 d)$327800

Sandhill Inc. reported inventory at the beginning of the current year of $320000 and at the end of the current year of $371000. If net sales for the current year are $4229200 and the corresponding cost of sales totaled $3126775, what is the inventory turnover for the current year?

The balance of Lloyd Corporation's accounts payable at the beginning of the most recent year was $53,000. At the end of the year, the accounts payable balance was $55,000. Lloyd's sales revenue for the year was $3,130,000, while its cost of goods sold for the year was $1,566,000. Calculate Lloyd's days' payable outstanding (DPO) for the year. Assume inventory levels are constant throughout the year. If the credit terms from Lloyd's suppliers are n/30, how would you interpret Lloyd's DPO? (Round the DPO to two decimal places, XXX.) KIYE Lloyd's days' payable outstanding for the year is A Lloyd is paying later than acceptable since the credit terms are n/30, which is usually characteristic of a company with great liquidity B. Since the credit terms are n/30, Lloyd is paying ahead of schedule, which is usually characteristic of a company with great liquidity C. Since the credit terms are n/30, Lloyd is paying later than acceptable, which is usually characteristic of a company with poor…

D1.

Tefft Industires has an average inventory of $170,000, sells on term of 2/10, net 30, and its cost of sales is $540,000. What is Tefft's inventory conversion period? *show work* A) 85 days B) 115 days C) 105 days D) cannot be determined from the data given

A company has beginning inventory for the year of $14,500. During the year, the company purchases inventory for $190,000 and ends the year with $21,000 of inventory. The company will report cost of goods sold equal to:   Multiple Choice   $211,000.   $190,000.   $196,500.   $183,500.