ACCT3201ResearchAssignment2

ACCT3201ResearchAssignment2 - 6. 2008: Increased $383 2007:...

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1 ACCT 3201 Robert Hoang 4/06/09 Research Assignment #2 1. 2008 LIFO Cost of Sales 1,520,173 Cost of Sales based on inventory amounts that approximate current costs 1,520,173+150,095=1,670,268 2. Inventory Turnover (LIFO) 1,520,173/(210,723+199,886/2)=7.40 Inventory Turnover (Current Cost) 1,520,173/(360,818+341,230/2)=4.33 3. Current Ratio (LIFO) 606,197/197,011=3.077 Current Ratio (Current Cost) 756,522/197,011=3.84 4. United States: Current Cost Foreign: Average Cost 5. 2008: Yes 2007: No
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Unformatted text preview: 6. 2008: Increased $383 2007: N/A 2 Applied Industrial Technologies Inc. 2008 2007 Cost of Sales (LIFO reported on Income Statement) 1,520,173 XX LIFO Inventory (reported on Balance Sheet) 210,723 199,886 Current Cost (CC) of Inventory from footnotes 360,818 341,230 Excess of CC over LIFO inventory 150,095 141,344 Current Assets- reported on balance sheet 606,197 XX Current Assets- adjusted for CC inventory 756,522 XX Current Liabilities 197,011 XX...
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This note was uploaded on 10/13/2009 for the course ACCT 3201 taught by Professor Biggs during the Spring '09 term at UConn.

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ACCT3201ResearchAssignment2 - 6. 2008: Increased $383 2007:...

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