Plz solve within 30min I vill give definitely upvote and vill give positive feedback Inventory A certain bookstore chain has twostores, one in San Francisco and one in LosAngeles. It stocks three kinds of book:hardcover, softcover, and plastic (for infants).At the beginning of January, the centralcomputer showed the following books instock.Hard Soft PlasticSan Francisco 2,000 5,000 7,000Los Angeles 3,000 4,000 3,000Suppose its sales in January were as follows:600 hardcover books, 1,300 softcover books,and 2,000 plastic books sold in San Francisco,and 300 hardcover, 300 softcover, and 400plastic books sold in Los Angeles.Write the given inventory table as a 2 X 3matrix. Write the given sales figures as a similarmatrix.Compute the inventory remaining in eachstore at the end of January.

Opening inventory across three varieties of products and two stores are known to us. We have the…

Answered: Inventory A certain bookstore chain has…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The records for the Clothing Department of Sheffield's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $24,900; at cost $17,200 Purchases in January: at retail $139,300; at cost $85,588 Freight-in: $6,900 Purchase returns: at retail $3,100; at cost $2,400 Transfers in from suburban branch: at retail $12,800; at cost $9,000 Net markups: $7,800 Net markdowns: $3,900 Inventory losses due to normal breakage, etc.: at retail $400 Sales revenue at retail: $96,100 Sales returns: $2,300 (a) ✓ Your answer is correct. Compute the inventory for this department as of January 31, at retail prices. Ending inventory at retail $ 83600 (b) eTextbook and Media × Your answer is incorrect. Compute the ending inventory using lower-of-average-cost-or-market. Ending inventory at lower-of-average-cost-or-market $ 53760 Attempts: 3 of 5 used
The records for the Clothing Department of Oriole's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $25,300; at cost $17,300 Purchases in January: at retail $137,800; at cost $84,760 Freight-in: $7,200 Purchase returns: at retail $2,900; at cost $2,200 Transfers in from suburban branch: at retail $13,200; at cost $9,100 Net markups: $8,100 Net markdowns: $4,000 Inventory losses due to normal breakage, etc.: at retail $400 Sales revenue at retail: $96,700 Sales returns: $2,400
The records for the Clothing Department of Blossom's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $25,000; at cost $17,200 Purchases in January: at retail $138,900; at cost $80,320 Freight-in: $6,900 Purchase returns: at retail $3,000; at cost $2,400 Transfers in from suburban branch: at retail $13,100; at cost $9,000 Net markups: $8,000 Net markdowns: $3,900 Inventory losses due to normal breakage, etc.: at retail $500 Sales revenue at retail: $95,500 Sales returns: $2,300 (a) × Your answer is incorrect. Compute the inventory for this department as of January 31, at retail prices. Ending inventory at retail +A $ 35496
Concord Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Concord's inventory consists of 240 books purchased at $18 each. Concord uses a perpetual inventory system. Return rates in the book industry are high, with Concord experiencing a 15% return rate historically. During the month of June, the following merchandise transactions occurred: June 1 3 5 8 9 11 12 17 22 25 29 Purchased 180 books on account for $16 each from Reader's World Publishers, terms n/45. Sold 230 books on account to The Book Nook for $25 each, with an assumed average cost of $17, terms n/45. Received a $144 credit for 9 books returned to Reader's World Publishers. Sold 85 books on account to Read-A-Lot Bookstore for $25 each, with an assumed average cost of $17, terms n/45. Issued a $300 credit memorandum to Read-A-Lot Bookstore for the return of 12 damaged books. The books were determined to be no longer saleable and were destroyed. Purchased 130 books on account for $14 each…
The records for the Clothing Department of Sage's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $24,900; at cost $16,600 Purchases in January: at retail $138,700; at cost $81,892 Freight-in: $7,000 Purchase returns: at retail $3,000; at cost $2,200 Transfers in from suburban branch: at retail $12,800; at cost $9,300 Net markups: $8,200 Net markdowns: $4,000 Inventory losses due to normal breakage, etc: at retail $400 Sales revenue at retail: $96,600 Sales returns: $2,400
Fanning Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: April May June Required purchases (on account) $ 116,000 $ 136,000 $ 148,000 Fanning Books’ accountant prepared the following schedule of cash payments for inventory purchases. Fanning Books’ suppliers require that 95 percent of purchases on account be paid in the month of purchase; the remaining 5 percent are paid in the month following the month of purchase. Required Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.
Prepare general journal entries for the following transactions of Eva Inc.: Eva Inc. is a retail store had the following sales and purchase transactions in January.   January 3: Sold 100 units of inventory at $80 per unit. Cost of $40 per unit. Eva Inc. offered credit terms of 1/10, n/30. January 5: Eva Inc. purchased 200 units of inventory from its supplier at $40 per unit on credit. The supplier offered credit terms of 1/10, n/30 January 6: Customer returned 20 units and received full credit. The units were returned to inventory. January 7: Eva made its payment to its supplier January 10: Eva received the payment in full, less the returned items.
Adams Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory. April $ 105,000 Required purchases (on account) Adams Books' accountant prepared the following schedule of cash payments for inventory purchases. Adams Books' suppliers require that 90 percent of purchases on account be paid in the month of purchase, the remaining 10 percent are paid in the month following the month of purchase Required A Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter. Complete this question by entering your answers in the tabs below. Required B Hay $125,000 Payment for current accounts payable Payment for previous accounts payable Total budgeted payments for inventory Complete the schedule of cash payments for…
The records for the Clothing Department of Sharapova’s Discount Store are summarized below for the month of January. Inventory, January 1: at retail $25,000; at cost $17,000 Purchases in January: at retail $137,000; at cost $82,500 Freight-in: $7,000 Purchase returns: at retail $3,000; at cost $2,300 Transfers in from suburban branch: at retail $13,000; at cost $9,200 Net markups: $8,000 Net markdowns: $4,000 Inventory losses due to normal breakage, etc.: at retail $400 Sales revenue at retail: $95,000 Sales returns: $2,400 Instructions a. Compute the inventory for this department as of January 31, at retail prices. b. Compute the ending inventory using lower-of-average-cost-or-market.
Required information In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $7 on January 1, (2) 450 units at $8 on January 8, and (3) 750 units at $9 on January 29. Assuming 900 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the weighted average cost flow assumptions. Assume perpetual inventory system and sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.)
Travel Warehouse Ltd. distributes suitcases to retail stores. At the end of June, Travel Warehouse's inventory consisted of 60 suitcases purchased at $50 each. Travel Warehouse uses a perpetual inventory system. During the month of July, the following merchandising transactions occurred: July 2. July 3. July 6. July 7. July 9. July 11. July 13. July 16. July 17. July 20. July 27. Purchased 75 suitcases on account for $60 each from Trunk Manufacturers Ltd., terms 2/10, n/30. Received a $240 credit from Trunk Manufacturers after returning four suitcases because they were damaged. Sold 55 suitcases on account to Satchel World Inc. for $90 each, with an average cost of $50, terms 2/15, n/45. Issued a $270 credit for three suitcases returned by Satchel World because they were the wrong model. The suitcases were returned to inventory. Sold three suitcases this time the right model number on account to Satchel World Inc. for $100 each, with an average cost of $60, terms 2/15, n/45. Paid Trunk…
Concord Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Concord's inventory consists of 240 books purchased at 18 each. Concord uses perpetual inventory system.Return rates in the book industry are high, with Concord experiencing a 15% return rate historically. During the month of June, the following merchandise transactions occured: B) Record the June transactions. To record sales To record cost of goods sold The part of this question must be completed in order. This part will be available when you completed in order. This part will be available when you complete the part above.

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