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In its financial statements WalkerCo is reporting net income of $210. Its tax rate for the year was 3596. Total assets at the beginning of
In its financial statements WalkerCo is reporting net income of $210. Its tax rate for the year was 3596. Total assets at the beginning of the year was $1,953 and at the end of the year $2,187. In the footnotes it is reported that the LIFO reserve at the beginning of the year was $134 and at the end of the year $168. Calculate the return on assets based solely on the data reported on the face of the balance sheet and income statement. Present your answer in percentage terms, rounded to two decimal places, e.g., 20.0096. In its financial statements WalkerCo reported cost of goods sold of $1,460. Inventory at the beginning of the year was $449 and at the end of the year $440. In the footnotes it is reported that the LIFO reserve at the beginning of the year was $84 and at the end of the year $80. If the company had instead used the FIFO inventory costing method, what would the company have reported as cost of goods sold? You may round to the nearest whole dollar. In its financial statements WalkerCo reported cost of goods sold of $1,076. Inventory at the beginning of the year was $497 and at the end of the year $328. In the footnotes it is reported that the LIFO reserve at the beginning of the year was $125 and at the end of the year $186. If the company had instead used the FIFO inventory costing method, what would the company have reported as inventory on its end-of-year balance sheet
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