Homework 4 Solution

Homework 4 Solution - LAST NAME: _ FIRST NAME_PUID_ Please...

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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– Maymester 2010 Krannert School of Management - Purdue University Homework 4 – due Thursday, March 26, 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: Oz Imports was formed in 2006 to sell a single product, Vegemite, which is imported from Australia. The price of this product was a constant $5 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 296,000 units for a total of $2,664,000 (267,000 units for a total of $2,136,000). Oz 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) 49,000 units @ $5.00 $245,000 Purchase, May 13, 2008 140,000 units @ $6.00 $840,000 Purchase, September 28, 2008 155,000 units @ $7.00 $1,085,000 Purchase, April 23, 2009
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This note was uploaded on 02/20/2012 for the course MGMT 200 taught by Professor Greigg during the Fall '08 term at Purdue.

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Homework 4 Solution - LAST NAME: _ FIRST NAME_PUID_ Please...

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