Mgmt 200 Spring 2010 Homework 4 Solution

Mgmt 200 Spring 2010 Homework 4 Solution - LAST NAME: _...

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LAST NAME: _____________ FIRST NAME______________PUID_________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Spring 2010 Krannert School of Management - Purdue University Homework 4 – due Wednesday, March 10, 2010 - SOLUTION IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. PART A: Mac Imports was formed in 2006 to sell a single product, the Pastroni, which is imported from Italy. The price of this product was a constant $14 per unit during 2006 and 2007, but due to unfavorable exchange rates the cost of this product more than doubled during 2008 and 2009. Sales for 2009 (2008) totaled 124,000 units for a total of $4,960,000 (107,000 units for a total of $3,745,000). Mac uses a periodic inventory system and provides the following information about cost of goods purchased during the last two years: Opening Inventory (12/31/07) 19,000 units @ $14.00 $266,000 Purchase, May 13, 2008 57,000 units @ $17.00 $969,000 Purchase, September 28, 2008 64,000 units @ $21.00 $1,344,000
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Mgmt 200 Spring 2010 Homework 4 Solution - LAST NAME: _...

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