Roki Inc uses the periodic inventory system. June 1 On hand, 50 units @ $15.00 each $ 750.00 5 Purchased 115 units @ $15.10 each 1,736.50 14 Purchased 75 units @ $15.20 each 1,140.00 Total cost of goods available for sale $3,626.50 30 On hand, 90 units If Roki uses the LIFO inventory method, the cost of goods sold for June would be
a. $2,200.00
b. $2,272.50
c. $2,296.08
d. $1,354.00
b
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On the statement of cash flows, the ______________________________ section involves the issuance and repayment of long term liabilities and stock transactions
Fill in the blank(s) with correct word
About one-half of individuals in a given age grouping are likely to die before reaching their life expectancy
Indicate whether the statement is true or false
An organization buys products and services for one main reason, which is to
A. employ people. B. achieve its own objectives. C. satisfy the needs of its suppliers. D. maintain inventory. E. beat its competitors.
Becker Billing Systems, Inc., has an antiquated high-capacity printer that needs to be upgraded. The system either can be overhauled or replaced with a new system. The following data have been gathered concerning these two alternatives (Ignore income taxes.): Overhaul Present SystemPurchase New SystemPurchase cost when new$300,000 $400,000 Accumulated depreciation$220,000 - Overhaul costs needed now$250,000 - Annual cash operating costs$120,000 $90,000 Salvage value now$90,000 - Salvage value in ten years$30,000 $80,000 Working capital required - $50,000 See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.The company uses a 10% discount rate and the total-cost approach to capital budgeting analysis.
The working capital required under the new system would be released for use elsewhere at the conclusion of the project. Both alternatives are expected to have a useful life of ten years.The net present value of the overhaul alternative is closest to: A. $(975,800) B. $(987,400) C. $(725,800) D. $(750,300)