Blue Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units
Aug 2 Purchases 249 $69 $17,181 249
3 Purchases 506 96 48,576
10 Sales (275) 480
15 Purchases 926 121 112,046 1,406
25 Sales (311) 1.09
1. Calculate the cost of goods sold and ending itwentory using the FIFO cost method
2. Calculate the cost of goods sold and ending inventory using the average cost method (Round average cost per unit and final answers to 2 decimal places, e., 1.25.)
Flounder Limited uses the FIFO cost formula in a perpetual inventory system. Fill in the missing amounts for items (1) to (18) in the following perpetual inventory schedule: (Round all answers to nearest whole dollar eg 5,212.)
Purchases Cost of Goods Sold Balance
Date Units Cost Total Units Cost Total Units Cost Total
Apr. 1 13 $16 $200
6 26

Every 10 years, the federal government sponsors a national survey of health and health practices (nhanes). one question in the survey asks participants to rate their overall health using a 5-point rating scale. what is the scale of measurement used for this question? ratio ordinal interval nominal

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.