Question: Deluxe Auto Parts holds inventory all over the world. Assume that the records for one auto part show the following: Beginning inventory $220,000 Net purchases Net sales Gross profit rate 800,000 1,100,000 45% Suppose this inventory, stored in the United States, was lost in a fire. Estimate the amount of the loss to Deluxe Auto Parts. Use the gross profit method.

Deluxe Auto Parts holds inventory all over the world. Assume that the records for one auto part show the following: Beginning inventory $ 2,20,000 Net purchases 8,00,000 Net sales 11,00,000 Gross profit rate 45% Suppose this inventory, stored in the United States, was lost in a fire. Estimate the amount of the loss to Deluxe Auto Parts. Use the gross profit method.

Please show the complete solution. Thank you so much.    1. LEVIATAN Company is using perpetual inventory system and net method. On May 1, the company purchased P200,000 worth of inventory on account with terms of 2/10, n/30; FOB shipping point, freight prepaid of P10,000. On May 5, the company returned P60,000 defective units. On May 11, the company paid in full the amount due. There were no other transactions during the month. Question: What is the amount paid on May 11 and the amount of general ledger balance of "Merchandise Inventory" as of May 30, respectively.

Project the average inventory balance in Year X and use it to compute the implied ending inventory balance.    Round to the nearest dollar except for Inventory Turnover (IT).  For IT round to 2 places beyond the decimal point.   Walton’s (data in millions)               Year X-1              Year X          Year X+1 Revenue           $ 58,790           $ 63.541 ? Cost of Goods Sold               38,518              42,445 ? Ending Inventory                7,250                7,350 ? Inventory Turnover   ?   Average Inventory     ?

Answer the following questions. Show your solutions in good form. 1. Fenn Company provided the following information for the current year. Merchandise purchased for resale Freight in Freight out Purchase returns Interest on inventory loan 4,000,000 100,000 50,000 20,000 200,000 What is the inventoriable cost of the purchase? a. 4,280,000 b. 4,030,000 C. 4,080,000 d. 4,130,000

How much is the cost of goods sold for the period???

Using the LIFO​ method, calculate the cost of ending inventory and cost of goods sold for Cambell Corporation.

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Funky Dance sold inventory for $250,000, terms 1/10, n/30. Cost of goods sold was $168,000. How much sales revenue will Funky Dance report from the sale? (Assume the company records sales at the net amount.) O A. $247,500 B. $250,000 C. $82,000 O D. $168,000

Using the LIFO​ method, calculate the cost of ending inventory and cost of goods sold for Cale Corporation.