lilday8230
24.08.2021 •
Business
You are auditing the financial statements of TV Land Trading for the year ended December 31, 2019. TV Land which uses the FIFO inventory method. The inventory for the Mega widescreen TV shows 1,263 units at $782 for a total of $987,666. When you look at the invoices for the TVs, you see the following:
Inventory Number Date Quantity UnitPrice Total
12732 11/22/14 1,000 $765 $765,000
12844 12/03/14 800 778 621,600
12905 12/28/14 600 783 469,200
Required:
Determine if the auditors need to recommend an adjustment for the cost of inventory. State yes/no and amount. Either way, show your working
Solved
Show answers
More tips
- F Food and Cooking Which Calamari Salad is the Most Delicious?...
- S Style and Beauty How are artificial nails removed?...
- S Style and Beauty Secrets of Tying a Pareo: 5 Ways...
- F Food and Cooking Everything You Need to Know About Pasta...
- C Computers and Internet How to Choose a Monitor?...
- H Horoscopes, Magic, Divination Where Did Tarot Cards Come From?...
- S Style and Beauty How to Make Your Lips Fuller? Ideas and Tips for Beautiful Lips...
- C Computers and Internet How to Learn to Type Fast?...
Answers on questions: Business
- B Business 1. Assume that your company is considering the lease of one of these HP copiers, and you expect that the average price for a color copy for your company would be...
- B Business Menu costs of inflation: a. are best described as the costs firms incur by having to change prices either on paper or in the computer. b. are the costs involved with...
- B Business In 2003, only 19 percent of high school students took classes that could earn them college credits (advanced placement or international baccalaureate courses). by...
- B Business Increasing the effectiveness of internal controls would have the greatest effect on...
- B Business If the cpi increases from 250 to 275 for one year, the rate of inflation for that year is...
- B Business List at least two advantages of the spoils system claimed by its supporters....
- B Business List four characteristics of the accumulated goods that make up economic wealth...
- B Business Increased availability of technology in my classroom makes it easier for peer feedback activities to be conducted anonymously which may create a social context where...
- B Business Is there a term to describe industries where its more expensive per unit to produce a large number than it is to produce a small number? a: yes, diseconomies of scale....
- B Business Which is an example of a demand account? a savings account b investment account c credit account (not this one) d checking account...
Ответ:
Limited decision-making is a little more involved than nominal decision-making
Explanation: But it's still not a process that requires in-depth research. Limited decisions are made about mid-cost products, semi-frequent purchases, or purchases from a somewhat familiar brand. ... Product quality.