Adam Inc uses a perpetual inventory system. Jan. 1 On hand, 10 units at $2 each $ 20 4 Sold 8 units for $10 each 80 22 Purchased 50 units at $4 each 200 26 Sold 48 units for $10 each 480 If Adam uses the FIFO method, how much is ending inventory on January 31?
a. $ 12
b. $ 16
c. $ 40
d. $ 8
b
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The collectively exhaustive set of events for flipping a coin is ________
Fill in the blank with correct word.
Based on the following income statement and balance sheet for Bankowski Corporation, determine the cash flows from operating activities using the indirect method.Bankowski CorporationIncome StatementFor Year Ended December 31, 20X2Sales?$504,000?Cost of goods sold $327,600 ??Depreciation expense33,000 ??Other operating expenses 125,500 (486,100)Other gains (losses):??? Gain on sale of equipment? 5,200?Income before taxes?$ 23,100?Income tax expense? (4,800)Net income?$ 18,300?????Bankowski CorporationBalance SheetsAt December 31Assets20X2?20X1? Cash$ 62,650? $ 55,800 ? Accounts receivable 21,000 ? 29,000 ? Inventory 58,000 ? 52,100 ? Equipment
240,000 ? 222,000 ? Accumulated depreciation (97,000)?( 96,000) Total assets$284,650 ?$262,900 ?????? Liabilities:???? Accounts payable $ 28,400 ? $ 23,700 ? Income taxes payable 1,050 ? 1,200 ? Total liabilities$ 29,450?$ 24,900?Equity:???? Common stock $106,000 ? $106,000 ? Paid-in Capital in excess of par value 18,000 ? 18,000 ? Retained earnings 131,200 ? 114,000 ? Total equity$255,200?$238,000?Total liabilities and equity$284,650?$262,900? What will be an ideal response?
When manufacturing a product like a computer or an automobile, planning takes place both before anything is produced and during the production process.
Answer the following statement true (T) or false (F)
Routing takes place at the ___________ layer
A. network B. link C. data control D. physical