chapter 8 part 1 - There are risks that should be taken in...

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Chapter 8 part 1 (questions 5,6,7,11,19, BE8-3, BE8-5) 5) The product financing arrangement is when an enterprise finances its inventory without reporting Its reported as a sale on the financial statement 6) a- Finished goods b- merchandise inventory c- merchandise inventory d- raw materials e-merchandise d-work in process 7) The net income will decrease because the expenses was reduced due to the purchase of the goo The company's balance sheet should also record the omission of purchases good
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Unformatted text preview: There are risks that should be taken in consideration because the goods have not been delivered ye 11) cost per unit 60 cost with freight 63 with 2/10, n/30 61.8 19) BE8-3 $255,000 BE8-5 weighted average cost per unit 11.85 ending inventory 7,110 cost of goods sold 4,740 either the liability or the inventory on its balance sheet od. et and some problems can occur before they are delivered....
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This note was uploaded on 04/14/2011 for the course ACCT 3202 taught by Professor Kenmichael during the Spring '11 term at University of Minnesota Duluth.

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chapter 8 part 1 - There are risks that should be taken in...

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