Accounting Chapter 9 Homework Markups Goods Available For Sale Inconsistent Between

subject Type Homework Help
subject Pages 9
subject Words 665
subject Authors David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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page-pf1
Student Name:
Class:
Product Units Cost NRV
Inventory
Value
A1,000 10,000$ 13,600$ 10,000$
31,450$ «- Correct!
Requirement 1:
Requirement 2:
Inventory carrying value:
Instructor
Inventory
THE DECKER COMPANY
Problem 09-01
McGraw-Hill/Irwin
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Unit
Unit Selling
Product Quantity Cost Price
A1,000 $10 $16
Given Data P09-01:
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Student Name:
Class:
Cost Retail
100,000$ 150,000$
(150,000)
Cost Retail
100,000$ 150,000$
(15,000)
Requirement 1:
Beginning inventory
Less: Net markdowns
Instructor
Conventional Retail Method
ALQUIST COMPANY
LIFO Retail Method
ALQUIST COMPANY
Problem 09-05
McGraw-Hill/Irwin
Requirement 2:
Beginning inventory
Less:
Normal shrinkage
Sales:
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100,000$
150,000$
Given Data P09-05:
2016 operations information:
Beginning inventory cost, 1/1/2016
Beginning inventory retail value, 1/1/2016
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Student Name:
Class:
Cost Retail
20,000$ 30,000$
Requirement 2:
McGraw-Hill/Irwin
Instructor
Conventional Retail Method
GRAND DEPARTMENT STORE, INC.
Beginning inventory
Requirement 1:
The difference between the inventory estimate per retail method and the amount per the physical count may
be due to:
1. Theft losses.
2. Spoilage or breakage above normal.
Problem 09-06
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20,000$
30,000$
Given Data P09-06:
Beginning inventory at cost, 10/1/2016
October, 2016 operations information:
Beginning inventory at retail, 10/1/2016
page-pf7
Student Name:
Class:
Cost Retail
27,500$ 45,000$
282,000 490,000
(10,000)
Cost Retail
27,500$ 45,000$
282,000 490,000
Beginning inventory
Requirement 2:
Less: Net markdowns
LIFO Retail Method
RALEIGH DEPARTMENT STORE
Plus: Purchases
Problem 09-10
McGraw-Hill/Irwin
Instructor
Conventional Retail Method
RALEIGH DEPARTMENT STORE
Beginning inventory
Requirement 1:
Plus: Purchases
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Student Name:
Class:
Problem 09-10
McGraw-Hill/Irwin
Instructor
Requirement 3:
Ending Inventory Inventory
Inventory Layers Layers
at Base Year at Base Year Converted To
Retail Prices Retail Prices Cost
56,100$ 55,000$ 50,000$ 30,500$
Year-end Retail Prices
2015
Ending Inventory at
Dollar-Value LIFO Retail Method
RALEIGH DEPARTMENT STORE
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45,000$
27,500$
Cost Retail
56,100$
62%
102%
Cost-to-retail percentage under LIFO retail method
12/31/15 inventory retail value
Appropriate price index of the January 1, 2015 price level
RALEIGH DEPARTMENT STORE
Given Data P09-10:

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