Data related to the inventories of mountain ski equipment and supplies is presented below:
skis boots apparel supplies
selling price $ 180,000 $ 150,000 $ 120,000 $ 60,000
cost 128,000 133,000 90,000 48,000
replacement cost 120,000 130,000 110,000 50,000
sales commission 10 % 10 % 10 % 10 %
normal gross profit ratio 20 % 20 % 15 % 15 %
in applying the lower of cost or market rule, the inventory of apparel would be valued at:
a. $108,000.
b. $ 90,000.
c. $110,000.
d. $115,000.
Answers: 3
Business, 21.06.2019 13:40, robert7248
Conner enterprises issued $120,000 of 10%, 5-year bonds with interest payable semi annually. determine the issue price of the bonds are priced to yield (a) 10%, (b) 8%, and (c) 12%. use financial calculator or excel to calculate answers. round answers to the nearest whole number.
Answers: 3
Business, 22.06.2019 15:40, aroman4511
Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.
Answers: 1
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