The Super Toy Stores inventory records at December 31, revealed the following: Inventory on hand, December 31 $350,000 Merchandise purchased F. O.B. shipping point, shipped by vendor on December 31, expected delivery date---January 4 118,000 Merchandise shipped to customers on December 28 F. O.B. destination, expected delivery date--January 3 75,000 Goods held on consignment by Super Toy Store, not included in inventory on hand 38,000 What was Super Toy Store's ending inventory at December 31

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If a seller prepaid the taxes of $4,400 and the closing is set for may 19, using the 12 month/30 day method what will the buyer owe the seller as prorated taxes?

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.