Sheffield has the following inventory information. july 1 beginning inventory 15 units at $20 $300 7 purchases 65 units at $19 1235 22 purchases 5 units at $25 125 $1660 a physical count of merchandise inventory on july 31 reveals that there are 30 units on hand. using the lifo inventory method, the amount allocated to cost of goods sold for july is

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Vendors provide restaurants with what? o a. cooked items ob. raw materials oc. furniture od. menu recipes

Your family business uses a secret recipe to produce salsa and distributes it through both smaller specialty stores and chain supermarkets. the chain supermarkets have been demanding sizable discounts, but you do not want to drop your prices to the specialty stores. true or false: the robinson-patman act limits your ability to offer discounts to the chain supermarkets while leaving the price high for the smaller stores. true false