Robertson corporations inventory balance was 22000 at

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54.Robertson Corporation's inventory balance was $22,000 at the beginning of the year and $20,000 at the end. The inventory turnover ratio for the year was 6.0 and the gross profit ratio 40%. What were net sales for the year?
55.Anthony Thomas Candies (ATC) reported the following financial data for 2016 and 2015:*Chart comparing income statement for 2016 and 2015*ATC’s gross profit ratio (rounded) in 2016 is:
56.ATC's inventory turnover ratio for 2016 is:
57.The average days inventory for ATC (rounded) for 2016 is:
58.Dollar-value LIFO:
59.Compared to dollar-value LIFO, unit LIFO is:
60.Bond Company adopted the dollar-value LIFO inventory method on January 1, 2016. In applying the LIFO method, Bond uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:*Ending Inventory Chart*Under the dollar-value LIFO method, the inventory at December 31, 2017, should be
61.On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,000. The 2016 ending inventory, valued at year-end costs, was $126,000. The relative cost index for this inventory in 2016 was 1.05.What inventory balance should Badger report on its 12/31/16 balance sheet?
62.On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $100,000. The 2016 ending inventory, valued at year-end costs, was $126,000. The relative cost index for this inventory in 2016 was 1.05.Suppose that Badger's 2017 ending inventory, valued at year-end costs, was $143,000 and that the relative cost index for this inventory in 2017 was 1.10. In determining the inventory balance should Badger report in its 12/31/17 balance sheet:
63.Suppose that Badger's 2018 ending inventory, valued at year-end costs, was $153,600 and that the relative cost index for this inventory in 2018 was 1.20. What inventory balance would Badgerreport on its 12/31/18 balance sheet?
64.Ramen Inc. adopted dollar-value LIFO (DVL) as of January 1, 2016, when it had a cost inventory of $600,000. Its inventory as of December 31, 2016, was $667,800 at year-end costs and the costindex was 1.06. What was DVL inventory on December 31, 2016?

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