What was the estimated amount of inventory, Accounting Basics

+44 141 628 6080
[email protected]

What was the estimated amount of inventory

Historically, the Amber Company's gross margin has amounted to 25% of sales. Its beginning inventory for the period amounted to $51,000 and purchases were $185,000 before the fire. Sales before the fire amounted to $220,000. What was the estimated amount of inventory that was destroyed in the fire?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the estimated amount of inventory

Reference No:- TGS048407

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : What is the effect on the accounting records

The Ivory Company's books showed ending inventory amounting to $250,000. A physical count showed that the inventory only totaled $235,000. What is the effect on the accounting records?

Q : Describe the purpose of adjusting entries

1.The accounting equation is Assets = Liabilities + Owners' Equity. Give me an example of a transaction that would affect the accounting equation. You can do this for your employer, college or self. 2. Briefly define and describe the purpose of ad

Q : Which would show a greater a larger ending inventory

Jackson Company purchased 250 units of merchandise for $1.00 each. Later on, it purchased 375 units for $1.00 each. It sold 450 units. Which would show a greater a larger ending inventory?

Q : Explain implicit attitude test using indirect techniques

Asian, African American or it would be a different outcome if there asked using indirect techniques, like using the implicit attitude test?

Q : What was the estimated amount of inventory

What was the estimated amount of inventory that was destroyed in the fire?

Q : What are the us tax consequences

Hans made a Code Sec. 871(d) election in Year 1. At the start of Year 2, Hans sold the building for $350,000. Hans' adjusted basis in the building at that time was $290,000. What are the U.S. tax consequences of Hans' U.S. activities?

Q : Compare and contrast the regulatory alternatives

Compare and contrast the regulatory alternatives discussed in Chapter 8 of the text in terms of the efficiency and efficacy these alternatives might provide to businesses and consumers. Next, determine which solution is the most viable, considering t

Q : Mortgage on the us manufacturing plant

Would your answer change if USAco had a liability of $300,000 in the form of a mortgage on the U.S. manufacturing plant?

Q : How does the value of the paper get counted in gdp

The firm that printed this text book bought the paper from XYZ Paper Mills. Was this purchase of paper part of GDP? If not, how does the value of the paper get counted in GDP?

1948851

Questions
Asked

3,689

Active Tutors

1446984

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the estimated amount of inventory

Reference No:- TGS048407

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the effect on the accounting records

Q : Describe the purpose of adjusting entries

Q : Which would show a greater a larger ending inventory

Q : Explain implicit attitude test using indirect techniques

Q : What was the estimated amount of inventory

Q : What are the us tax consequences

Q : Compare and contrast the regulatory alternatives

Q : Mortgage on the us manufacturing plant

Q : How does the value of the paper get counted in gdp

Which are forms of media bias

How code of suburbs differs from the code of street

Cases of local communities using modern technology

Statement about political systems controlled by men

Discussion about idea of the tramp stamp

Compare critical feminist theory and power-control theory

Problem regarding culturally relativistic

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the estimated amount of inventory

Reference No:- TGS048407

Recent Questions Asked Accounting Basics

Q : What is the effect on the accounting records

Q : Describe the purpose of adjusting entries

Q : Which would show a greater a larger ending inventory

Q : Explain implicit attitude test using indirect techniques

Q : What was the estimated amount of inventory

Q : What are the us tax consequences

Q : Compare and contrast the regulatory alternatives

Q : Mortgage on the us manufacturing plant

Q : How does the value of the paper get counted in gdp

Asked Questions