Wildhorse Inc.'s net sales and gross profit were $339100 and $122550 respectively. Assuming the cost of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Wildhorse Inc.'s net sales and gross profit were $339100 and $122550 respectively. Assuming the cost of goods available for sale were $273700, what was the cost value of the ending inventory? Wildhorse Inc.'s net sales and gross profit were $339100 and $122550 respectively. Assuming the cost of goods available for sale were $273700, what was the cost value of the ending inventory?
Expert Answer:
Answer rating: 100% (QA)
The cost value of the ending inventory can be calculated using the formula Cost of Goods Sold ... View the full answer
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
The financial statements for Wilkerson Corporation follow. Additional information contained in the records revealed that equipment, having a cost of $ 37,600 and accumulated depreciation of $ 28,480,...
-
You are auditing accounts receivable for a small company and have found the following results: Number and Size of Client Accounts Book Value of Stratum Book Value of Sample Audit Value of Sample...
-
Bromination of an alkene by N-bromosuccinimide (NBS) in thepresence of light or peroxide is a radical reaction and produces anallylic bromide. For the following bromination of3-methylcyclopentene,...
-
Determine the products of inertia of the uniform slender rod of mass m about the coordinate axes shown. h b
-
The graph in Problem 11 depicts the market demand for 30-weight ball bearings. That particular market segment is monopolized by a single producer named Irwin. Referring to that graph: a. How do the...
-
How does job order costing differ from process costing?
-
The summarised balance sheets of A plc and its two subsidiaries, B Ltd and C Ltd, at 31 December 1992 are shown below: The summarised profit and loss accounts for A plc and B Ltd for the year ended...
-
Pete qualifies for a home office deduction. The amount of space devoted to business use is 300 square feet of the total 1,200 square feet in his apartment. Petes total rent for the year is $9,600,...
-
North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $ 1 0 , authorized 2 0 , 0 0 0 shares. Common stock: par $ 1 ,...
-
Freddy Frolic consumes only asparagus and tomatoes, which are highly seasonal crops in Freddys part of the world. He sells umbrellas for a living, which provides a fluctuating income depending on the...
-
Trang had a rental home that received a notice of noncompliance because of her failure to maintain repairs. She received the notice on September 1, 2022 and did not complete any of the repairs until...
-
. Assume you can buy 52 British pounds with 100 Canadian dollars. How much profit can you earn on a triangle arbitrage given the following rates if you start out with 100 U.S. dollars? COUNTRY Canada...
-
I hold 100 shares in company A, which are 10% of the outstanding shares. The company has an unlevered cash flow equal to $1,000,000. At the moment the company is unlevered, but the management has...
-
Recall from Example 7.4 that (p(x), g(x)) = a b + ab + ab defines an inner product on P[a, b]. Let p(x) = 7 - 2x and g(x) = 1 + x + x. (p(x), g(x)) is the inner product given above Compute the...
-
B. Use Newton's method with 3 iterations to estimate the solutions to 2 = 2x. Round your answer to 5 decimal places, and use 20 = 1.
-
d 1. Determine 2e2 sin4x+3 using appropriate rules (no first principles). [5] dx 2. Find the equation of the tangent line to f(x)=xlnx when x = e. Use EXACT values (no approximations for e): [5]
-
y = 2 tan () Drag either of the movable red points to set the asymptotes for one period of the given function. Also place the blue point at the correct set of coordinates. You may click on a point to...
-
The May 2014 revenue and cost information for Houston Outfitters, Inc. follow: Sales Revenue (at standard).............. $ 540,000 Cost of Goods Sold (at standard) ..........341,000 Direct Materials...
-
Why is direct labor a poor base for allocating overhead in many companies?
-
Prevala Corporation recently suffered from its fourth straight decline in quarterly earningsdespite modest increases in sales. Unfortunately, Prevalas industry is highly competitive, so the company...
-
Mark Fletcher, president of SoftGro Inc., was looking forward to seeing the performance reports for November because he knew the companys sales for the month had exceeded budget by a considerable...
-
Esteban Almada was recently promoted to loan officer at First Federal Bank. He has authority to issue loans up to $75,000 without approval from a higher bank official. This week two small companies,...
-
Refer to CVS Corporations annual report in the Supplement to Chapter 1 to answer the following questions. (Note that 2004 refers to the year ended January 1, 2005, and 2003 refers to the year ended...
-
Review the multistep income statement presented in Exhibits 3 and 4. In your group, discuss how this form of the income statement meets each of these qualitative characteristics of accounting...
Study smarter with the SolutionInn App