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1. 2. 3. Big M's BBQ purchased a truck for $52,000 on 1/1 in Year 1. The truck is expected to have a five-year life
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Big M's BBQ purchased a truck for $52,000 on 1/1 in Year 1. The truck is expected to have a five-year life or last 100,000 miles and have a residual value of $10,000. The truck was driven as follows for year 1 & 2: Year 1 - 25,000 miles Year 2 - 25,000 miles If the activity based depreciation method is used, what will be the book value of the truck at the end of Year 2 on 12/31? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Given the following data, what is the cost of goods sold as determined under the FIFO method if XYZ Auto Parts sold 350 units at $54 per unit? Information Number of Units Unit Cost 100 $30 Beginning Inventory on 1/1 Inventory Purchases on 1/5 300 $16 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Auto's Body Shop had the following costs associated with new inventory purchases for the month of January: . New inventory purchases $6,000 Shipping costs incurred $407 Purchase discounts taken $200 If the beginning balance in the inventory account is a $5,000 debit, what is the new balance in the inventory account after considering the new purchases? Fill in the blank with your calculated number. DO NOT include commas. $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123Step by Step Solution
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