Lindley Corp.'s stock price at the end of last year was $33.50, and its book value per share was $25.00. What was its market/book ratio?
A. 1.34
B. 1.41
C. 1.48
D. 1.55
E. 1.63
Answer: A
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A manufacturer's balance sheet has three inventory accounts rather than the single merchandise inventory account used by a merchandiser
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A company uses the FIFO method for inventory costing. At the beginning of a period, the production department had 20,000 units in beginning Work in Process inventory which were 40% complete; the department completed and transferred 165,000 units. At the end of the period, 22,000 units were in the ending Work in Process inventory and are 75% complete. Compute the number of equivalent units produced by the department.
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