Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1.given the following october 2017 data for the pa

1.Given the following October 2017 data for the Paquette Company: Using the Retail method,...

80.2K

Verified Solution

Question

Accounting

1.Given the following October 2017 data for the Paquette Company: image Using the Retail method, the inventory cost estimate at 10/31/17 is:

Select one:

a. $2,900

b. $2,354

c. $2,278

d. $2,250

e. $3,000

2.Given the following March 2016 data for the Werthmann Company: image The estimated inventory at 3/31/16 is:

Select one:

a. $500

b. $1,200

c. $720

d. $800

e. $320

At Cost $1,000 Beginning Inventory Mark ups Mark-up Cancellations Net Sales Net Purchases At Retail $1,250 $250 $150 $5,000 $6,650 $5,000 Beginning Inventory March Purchases March Sales Revenue Mark-up on Cost $1,100 $900 $1,600 25%

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

This case study concerns a bank's efforts to calculate credit risk scores (These are opposite of...

Basic Math
Q

Where do B cells develop and mature? What are the five basic classes of antibodies? What do...

Medical Sciences
Q

Why may the levels of radiation exposure be greater inside of some buildings than in open...

Physics
Q

Write about Repair and Maintenance of concrete (Also include reason for Repairs, Injections of repairs, Method...

Civil Engineering
Q

Explain how asset specificity can lead to transaction costs please give 2 examples Please explain well and...

General Management
Q

23 A circular ring of radius r is placed in a homogeneous magnetic field perpendicular...

Physics
Q

will change B If Q changes E will change b D If Q 0 and...

Physics
Q

A body execute SHM according to equation x 10 cos 2 t 4 At t...

Physics
Q

Which of the following statements is true?A. Every term of a sequence must be nonzero.B....

Algebra
Q

Using practical examples, discuss how the emerging accountancy tool that applies cognitive intelligence to generate...

Accounting
Q

ROI and Investment Decisions Allard, Inc., presented two years of data for its Frozen Foods...

Accounting
Q

Exercise 6-3 (Algo) Prepare a multiple-step income statement and analyze profitability (LO6-2) Tisdale Incorporated reports...

Accounting