{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T04:32:35-04:00", "answer_date": "2024-06-28 04:32:35", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4238001", "url": "\/study-help\/questions\/denises-boutique-uses-the-perpetual-inventory-method-for-its-wristlet-4238001", "question_creation_date_js": "2024-06-28T04:32:35-04:00", "question_creation_date": "Jun 28, 2024 04:32 AM", "meta_title": "[Solved] Denise's Boutique uses the perpetual inve | SolutionInn", "meta_description": "Answer of - Denise's Boutique uses the perpetual inventory method for its wristlet purses. It has provided the following inventory | SolutionInn", "meta_keywords": "denise,s,boutique,perpetual,inventory,method,wristlet,purses,provided,information,october,oct", "question_title_h1": "Denise's Boutique uses the perpetual inventory method for its wristlet purses. It has provided the following inventory information for October: Oct. 1 On hand, 40", "question_title": "Denise's Boutique uses the perpetual inventory method for its wristlet purses. It", "question_title_for_js_snippet": "Denise's Boutique uses the perpetual inventory method for its wristlet purses It has provided the following inventory information for October Oct 1 On hand, 40 units $20 each $ 800 Oct 8 Purchased 200 units $21 each 4,200 Oct 14 Sold 190 units $50 each 9,500 Oct 19 Purchased 100 units $27 each 2,700 Oct 28 Sold 120 units $50 each 6,000 Denise's Boutique has a 30 effective income tax rate A How much is the cost of ending inventory at October 31 and the cost of goods sold for October using FIFO B How much is the cost of ending inventory at October 31 and the cost of goods sold for October using LIFO C How much will Denise's Boutique save in income taxes if it uses LIFO D Calculate Denise's Boutique's inventory on hand period under both LIFO and FIFO Which method generates the 'better' inventory on hand' ratio ", "question_description": "

Denise's Boutique uses the perpetual inventory method for its wristlet purses. It has provided the following inventory information for October: Oct. 1 On hand, 40 units @ $20 each $ 800 Oct. 8 Purchased 200 units @ $21 each 4,200 Oct. 14 Sold 190 units @ $50 each 9,500 Oct. 19 Purchased 100 units @ $27 each 2,700 Oct. 28 Sold 120 units @ $50 each 6,000 Denise's Boutique has a 30% effective income tax rate. A. How much is the cost of ending inventory at October 31 and the cost of goods sold for October using FIFO? B. How much is the cost of ending inventory at October 31 and the cost of goods sold for October using LIFO? C. How much will Denise's Boutique save in income taxes if it uses LIFO? D. Calculate Denise's Boutique's inventory-on-hand period under both LIFO and FIFO. Which method generates the 'better' inventory-on-hand' ratio?<\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "087891966X", "uri": "\/textbooks\/sociology-essentials-1st-edition-978-0878919666-261618", "name": "Sociology Essentials", "edition": "1st Edition" }, "question_posted": "2024-06-28 04:32:35", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/ajax-division-of-carlyle-corporation-produces-electric-motors-20-of", "description": "Ajax division of Carlyle Corporation produces electric motors, 20% of which are sold to the Bradley division of Carlyle and the remainder to outside customers. Carlyle treats its divisions as profit...", "stars": 3 }, { "url": "\/study-help\/introduction-to-probability-statistics\/640-let-x-be-a-binomial-random-variable-for-n25-1983268", "description": "6.40 Let X be a binomial random variable for n=25, p=0.2. a. Use Table 1 in Appendix I to calculate P(4 X 6). b. Find and or for the binomial probability distribu- tion, and use the normal...", "stars": 3 }, { "url": "\/figure-421-shows-the-swim-lane-process-map-for-a", "description": "Figure 4.21 shows the swim lane process map for a patient undergoing a lumpectomy (the surgical removal of a small tumor from the breast). Nine parties, including the patient, were involved in the...", "stars": 3 }, { "url": "\/study-help\/questions\/dont-cross-me-please-give-an-english-proof-which-proves-9845430", "description": "Don't Cross Me. Please give an english proof which proves the following. Thank you please use predicate logic to solve this proof but the proof can be written in English, not formal proof 1. Don't...", "stars": 3 }, { "url": "\/study-help\/questions\/1-list-some-of-the-reasons-that-financial-analysis-is-7006623", "description": "1. List some of the reasons that financial analysis is conducted. Identify some of the participants that analyze the firm's financial statements. 2. Explain how internally generated funds are used to...", "stars": 3 }, { "url": "\/study-help\/questions\/the-charter-of-rights-and-freedoms-part-of-canadas-1002666", "description": ". The Charter of Rights and Freedoms, part of Canada\\'s constitution, was drafted broadly, with the expectation that its provisions would be interpreted by case law. Why do you think the drafters...", "stars": 3 }, { "url": "\/study-help\/questions\/the-common-law-system-is-the-system-of-law-that-1004481", "description": "The COMMON law system is the system of law that courts follow in the U.S. It was borrowed from the British system and still exists in most countries that were once part of or still are part of the...", "stars": 3 }, { "url": "\/study-help\/questions\/mention-a-few-food-safety-practices-you-will-exercise-when-1004880", "description": "Mention a few food safety practices you will exercise when dealing with ready-to-eat foods?", "stars": 3 }, { "url": "\/study-help\/questions\/your-team-wants-to-compare-two-mean-values-after-gathering-999618", "description": "Your team wants to compare two mean values after gathering eye tracking data of users who engaged with the Insurance Dashboard in Figure 1. You, as IT manager, suggest that they consider two...", "stars": 3 }, { "url": "\/study-help\/questions\/what-operating-system-and-currently-supported-version-have-you-used-1005003", "description": "What operating system and currently supported version have you used and what about itdid you not like?Explain why.", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/a-companys-sales-in-the-last-year-in-its-three-4238000", "next": "\/study-help\/questions\/comprehensive-problem-32b-christopher-crosphit-age-42-owns-and-operates-4238002" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Denise's Boutique uses the perpetual inventory method for its wristlet purses. It", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/denises-boutique-uses-the-perpetual-inventory-method-for-its-wristlet-4238001" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }