Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Read the following cases carefully, and then provide the correct answer for each one. (a): Assume that Mander AG has unfinished inventory with a cost

image text in transcribed
Read the following cases carefully, and then provide the correct answer for each one. (a): Assume that Mander AG has unfinished inventory with a cost of 950, a sales value of 1,000, estimated cost of completion of 50, and estimated selling costs of 200. Calculate the Mander's Inventory net realizable value, and Its Inventory write-down. (b): Assume Cetus SE has a beginning inventory of $50,000 and purchases of $100.000, both at cost. Sales at selling price amount to 280.000. The gross profit on selling price is 20 percent. Instructions: If you know that Cetus applies the gross margin method, calculate/estimate inventory value. (c) In Its 2015 annual report Tate & Lyle plc (GBR) reported a beginning Inventory of 5000, an ending Inventory of 7000, and cost of goods sold of 1000 for the year. Instructions: Measure the number of times on average a company sells the Inventory during the period 7 A B 1 !!! III %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting In A Nutshell Accounting For The Non-specialist

Authors: Walker, Janet

3rd Edition

075068738X, 9780750687386

More Books

Students also viewed these Accounting questions