The inventory of don’s grocery was destroyed by a tornado on october 6 of the current year. fortunately, some of the accounting records were at the home of one of the owners and were not damaged. the following information was available for the period of january 1 through october 6: beginning inventory, january 1 $140,000 purchases through october 6 670,000 sales through october 6 1,100,000 gross margin for don’s has traditionally been 30 percent of sales.
required

a. for the period ending october 6, compute the following:

1. estimated gross margin
2. estimated cost of godos sold
3. estimated inventory at october 6

b. assume that $15,000 of the inventory was not damaged. what is the amount of the loss from the tornado?
1. total loss

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

How are interest rates calculated by financial institutions? financial institutions generally calculate interest as (1) interest or (.

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.