Anton Co. uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory that cost $16.00 each. If Anton sells 700 units of inventory, what is the amount of cost of goods sold?
A. $8,400
B. $9,600
C. $11,200
D. $10,400
Answer: B
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Which of the following is not true regarding reserves that appear in the equity section of the balance sheet of foreign companies?
a. Reserves represent cash set aside to fund capital projects. b. Reserves are different categories found in the equity section of the balance sheet. c. The balances in reserve accounts can affect an entity's legal ability to pay cash dividends. d. An extensive description of each reserve shown on the balance sheet is provided.
Purchasing power parity is a way to compare
A. meals in different economic systems, via the Big Mac Index. B. the purchasing power of several currencies. C. the impact of financial aid in several economies. D. tastes in several different cultures.
A company is considering a 5-year project. The company plans to invest $60,000 now and it forecasts cash flows for each year of $16,200. The company requires a hurdle rate of 12%. Calculate the internal rate of return to determine whether it should accept this project. Selected factors for a present value of an annuity of $1 for five years are shown below:Interest ratePresent value of an annuityof $1 factor for year 510%3.790812%3.604814%3.4331
A. Only 9% is acceptable. B. The project earns more than 10% but less than 12%. At a hurdle rate of 12%, the project should be rejected. C. Only 10% is acceptable. D. The project should be rejected because it earns less than 10%. E. The project should be accepted.
The trial balance is also known as the balance sheet
Indicate whether the statement is true or false