A option a b option b c option c d option d fulbright

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A. Option aB. Option bC. Option cD. Option d
Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition):• 40 units at $100• 70 units at $80
Ending inventory using the average cost method (rounded) is:
Ending inventory using the FIFO method is: D. $600.
Ending inventory using the LIFO method is:
Nu Company reported the following pretax data for its first year of operations.
ENDING INV:IF LIFO 820IF FIFO 1060What is Nu's net income if it elects FIFO? following:March 1, 2013, inventory: 1,000 gallons @ $7.20 =
D. $144.What is Nu's net income if it elects LIFO? Mar. 16th 800 [email protected]/Mar. 14th 700 galMar. 23rd 600 [email protected]/Mar. 20th 500 galxxxxxxxxxxxxxxxxxxxx/Mar. 26th 700 galA. $288.B. $144.C. $240.D. $480.
What is Nu's gross profit ratio if it elects LIFO? inventory system would be: A. $4,960.B. $5,060.C. $5,080.D. $5,140.
Nueva Company reported the following pretax data for its first year of operations.NET SALES 7340
EFFECTIVE TAX RATE 40%ENDING INV:IF LIFO 618IF FIFO 798What is Nueva's gross profit ratio (rounded) if it elects FIFO?
What is Nueva's net income if it elects FIFO? A. $440.B. $264.C. $620.D. $372
What is Nueva's net income if it elects LIFO?
Inventory records for Herb's Chemicals revealed thefollowing:March 1, 2013, inventory: 1,000 gallons @ $7.20 =
Mar. 10th 600 [email protected]/Mar. 5th 400 galMar. 16th 800 [email protected]/Mar. 14th 700 galMar. 23rd 600 [email protected]/Mar. 20th 500 galxxxxxxxxxxxxxxxxxxxx/Mar. 26th 700 galEnding inventory assuming LIFO in a Perpetual inventory system would be: A. $4,960.B. $5,060.C. $5,080.D. $5,140.
The ending inventory assuming FIFO is:
D. $5,050.The ending inventory under a periodic inventory system assuming average cost (rounding unit cost tothree decimal places) is: A. $5,087.
Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 300 qts. @ $2.40 on April 1Purchases: / Sales:Apr. 10th 500 [email protected]/Apr. 3th 200 galApr. 14th 400 [email protected]/Mar. 12th 500 galApr. 20rd 400 [email protected]/Mar. 26th 300 galThe ending inventory assuming LIFO and a periodic inventory system is:
The ending inventory assuming LIFO and a perpetual inventory system is: A. $1,545.B. $1,470.C. $1,580.D. $1,510.

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