Periodic Inventory-LIFO Jessie Stores uses the periodic system of calculating inventory. The following information is available for December of the current year, when Jessie Stores sold 500 units of inventory. Units Cost/Unit Total Cost Inventory, Dec. 1 300 250 $75,000 Purchases, Dec. 8 600 275 165,000 900 $240,000 Using the LIFO method, calculate Jessie Stores' inventory on December 31 and its cost of goods sold for December.

Straight arrow unloaded two tankers worth of toxic waste at an important port in the country of urithmea. a hundred workers worked two days in their shorts and sandals to unload the barrels from the tankers for $5 a day. they were not told about the content of the barrels. some observers felt that it was the obligation of not just the government of urithmea but also of straight arrow to ensure that no harm was done to the workers. these observers are most likely

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false