#3 ZMay-1716-May-17Purchased6,000 units ($6 each)21-Мay-17Sold(9,000 units)29-Мay-17Sold(4,000 units)31-Маy-17Ending Balance3) The Company had sales of $1,850,000 and Cost of Goods of $875,000 for the year ended 12/31/18.From this information please determine the gross margin percent and the number of dayscost of goods in inventory.4) The Main Company requires an estimate of cost of goods lost in a fire on May 10, 2019.Merchandise on hand on January 1 was $42,000. Purchases since January were $63,000; freight in waSales are made at 2 times cost and sales totaled $100,000 thru May 10, 2018. Goods costing $16,000Please compute the cost of the goods destroyed in the fire.5)Calculate the gain or loss on dispositions of the following fixed assets:Purchase Price$520,000$80,000Salvage value三Sheet1

As requested to answer the third question so we are answering only that.

-) The Company had sales of $1,850,000 and Cost of Goods of $875,000 for the year ended 12/31/18. From this information please determine the gross margin percent and the number of days cost of goods in inventory.

-) The Company had sales of $1,850,000 and Cost of Goods of $875,000 for the year ended 12/31/18. From this information please determine the gross margin percent and the number of days cost of goods in inventory.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 4RE: Refer to RE22-2. Assume Heller Company had sales revenue of 510,000 in 2019 and 650,000 in 2020....

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

ZMay-17
16-May-17
Purchased
6,000 units ($6 each)
21-Мay-17
Sold
(9,000 units)
29-Мay-17
Sold
(4,000 units)
31-Маy-17
Ending Balance
3) The Company had sales of $1,850,000 and Cost of Goods of $875,000 for the year ended 12/31/18.
From this information please determine the gross margin percent and the number of days
cost of goods in inventory.
4) The Main Company requires an estimate of cost of goods lost in a fire on May 10, 2019.
Merchandise on hand on January 1 was $42,000. Purchases since January were $63,000; freight in wa
Sales are made at 2 times cost and sales totaled $100,000 thru May 10, 2018. Goods costing $16,000
Please compute the cost of the goods destroyed in the fire.
5)
Calculate the gain or loss on dispositions of the following fixed assets:
Purchase Price
$520,000
$80,000
Salvage value
三
Sheet1

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