King Supply maintains its intemal inventory records using perpetual FIFO, but for financial reporting purposes, reports ending inventory and cost of goods sold using periodic LIFO. At the beginning of the year, the company had a balance of $70,000 in its LIFO reserve account. By the end of the year, internal records reveal that FIFO ending inventory is $81,000 greater than LIFO ending inventory Record the year-end adjusting entry for the LIFO reserve. (If no entry Is required for a transactlon/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet Record the year-end adjusting entry for the LIFO reserve

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?