Gen Combo Ll Financial Accounting: Information For Decisions; Connect Ac
9th Edition
ISBN: 9781260260779
Author: Wild
Publisher: MCG
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Chapter 5, Problem 24QS
Summary Introduction
Introduction:
Inventory is a record of finished goods of a company which the can sell to the customer, work in progress which can be transform into finish good and raw material which is a means of production. Inventory is also classified as current asset in the
To calculate: The total inventory cost assigned to restoration of used panel.
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A solar panel dealer acquires a used panel for $9,200, with terms FOB shipping point. Compute total inventory costs assigned to the used panel if additional costs include • $1,700 for sales staff salaries. + $300 for transportation-in by train. • $120 for online advertising. • $150 for shipping insurance. . $600 for used panel restoration. • $350 for lawn care. Cost Transportation-in by train Shipping insurance Used panel restoration Online advertising Sales staff salaries Lawn care Total S S Cost 9.200 300 150 600 120 1,700 350 12.420 OUDERIN Included in Inventory Cost Expensed as incurred
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A solar panel dealer acquires a used panel for $9,000, with terms FOB shipping point. Compute total inventory costs assigned to the used panel if additional costs include ∙ $1,500 for sales staff salaries. ∙ $135 for shipping insurance. ∙ $280 for transportation-in by train. ∙ $550 for used panel restoration. ∙ $110 for online advertising. ∙ $300 for lawn care.
A car dealer acquires a used car for $16,000, with terms
FOB shipping point. Compute total inventory costs
assigned to the used car if additional costs include
• $130 for transportation-in.
• $150 for shipping insurance.
• $920 for car import duties.
• $200 for advertising.
• $2,000 for sales staff salaries.
• $110 for trimming shrubs.
Included in
Expensed as
Cost
Inventory Cost
incurred
Cost
$
16,000
Transportation-in
130
Import duties
920
Insurance during shipment
150
Advertising
200
Sales staff salaries
2,000
Trimming shrubs
110
Total
$
19,510
Chapter 5 Solutions
Gen Combo Ll Financial Accounting: Information For Decisions; Connect Ac
Ch. 5 - Describe how costs flow from inventory to cost of...Ch. 5 - Prob. 2DQCh. 5 - Prob. 3DQCh. 5 - If inventory errors are said to correct...Ch. 5 - Prob. 5DQCh. 5 - Prob. 6DQCh. 5 - Prob. 7DQCh. 5 - When preparing interim financial statements, what...Ch. 5 - Prob. 9DQCh. 5 - Prob. 10DQ
Ch. 5 - Prob. 11DQCh. 5 - Refer to Samsung’s financial statements in...Ch. 5 - Prob. 1QSCh. 5 - Prob. 2QSCh. 5 - Prob. 3QSCh. 5 - Prob. 4QSCh. 5 - Prob. 6QSCh. 5 - Prob. 7QSCh. 5 - Prob. 8QSCh. 5 - Prob. 9QSCh. 5 - Prob. 10QSCh. 5 - Prob. 11QSCh. 5 - Refer to the information in QS 5-10 and assume the...Ch. 5 - Prob. 13QSCh. 5 - Prob. 14QSCh. 5 - Prob. 15QSCh. 5 - Prob. 16QSCh. 5 - Prob. 17QSCh. 5 - Identify the inventory costing method best...Ch. 5 - Prob. 19QSCh. 5 - In taking a physical inventory at the end of the...Ch. 5 - Prob. 21QSCh. 5 - Confucious Bookstore’s inventory is destroyed by a...Ch. 5 - Answer each of the following questions related to...Ch. 5 - Prob. 24QSCh. 5 - Prob. 1ECh. 5 - Prob. 2ECh. 5 - Laker Company reported following January purchases...Ch. 5 - Prob. 7ECh. 5 - Prob. 8ECh. 5 - Prob. 9ECh. 5 - Prob. 10ECh. 5 - Prob. 11ECh. 5 - Prob. 12ECh. 5 - Prob. 13ECh. 5 - Prob. 14ECh. 5 - Prob. 15ECh. 5 - Prob. 16ECh. 5 - Prob. 17ECh. 5 - Tree seedlins has the following current-year...Ch. 5 - Prob. 1PSACh. 5 - Prob. 2PSACh. 5 - Prob. 3PSACh. 5 - Prob. 5PSACh. 5 - Prob. 6PSACh. 5 - Prob. 7PSACh. 5 - QP Corp. sold 4,000 units of its product at $50...Ch. 5 - Prob. 9PSACh. 5 - Prob. 10PSACh. 5 - Prob. 1PSBCh. 5 - Prob. 2PSBCh. 5 - Prob. 3PSBCh. 5 - Prob. 4PSBCh. 5 - Prob. 5PSBCh. 5 - Hallam Company’s financial statements show the...Ch. 5 - Prob. 7PSBCh. 5 - Shepard Company sold 4,000 units of its product at...Ch. 5 - Prob. 9PSBCh. 5 - Prob. 10PSBCh. 5 - Santana Rey of Business solutions is evaluating...Ch. 5 - Prob. 5.2SPCh. 5 - Prob. 1FSACh. 5 - Prob. 2FSACh. 5 - Prob. 3FSACh. 5 - Golf Challenge Corp. is a retail sports store...Ch. 5 - Prob. 2BTNCh. 5 - Prob. 5BTN
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