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(solution)- P7-3 and CP7-2


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The Question

Activity Context

 

 

Revisit the?MBA6014 Course Alignment Map?to review how all activities assist you in achieving the course competencies and overall program outcomes.

 

 

Activity Instructions

 

 

In this assignment, you will apply the various concepts of the cost assumptions presented in Chapter 7 regarding inventory. Utilizing your understanding of inventory, you will locate and interpret the information provided within a given set of financial statements.

 

 

Complete P7-3 (pages 369?370) and CP7-2 (page 376) from Chapter 7 of your?Financial Accounting?textbook.

 

 

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Submission Requirements

 

 

All quantitative assignments must be completed on the Microsoft Excel templates provided. Create one workbook with multiple tabs, copying each problem's template onto a separate tab and completing the work there. Submit this single file in the assignment area. Include your name and the assignment number in the file name; also include your name and the problem number on each tab of the document. All work should be shown. Assignments must not be submitted as a PDF.

 

 

Refer to the scoring guide for this assignment to ensure that you meet the grading criteria. Note that one scoring guide is used to evaluate both of the problems in this assessment; each criterion in the scoring guide relates to one or both of the problems here.

 

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Solution details

Solution #000697255799

(solution)- P7-3 and CP7-2.zip

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CP7-2xxxxxxx Financial InformationLO7-2, 7-4, xxxx 7-7
xxxxx xx the financial xxxxxxxxxx of xxxxx Outfitters xxxxx xx Appendix x at the end of this book.
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1. xxx xxxxxxx uses xxxxx of xxxx xx xxxxxx to account for xxx xxxxxxxxxx At xxx xxx of the year, xx xxx xxxxxx the company xx write xxx
inventory down to replacement cost xx xxx realizable value? xxxxxxx your xxxxxxx
Inventories, which xxxxxxx xxxxxxxxx of general consumer merchandise held xxx sale, xxx xxxxxx at xxx lower of xxxx xx market. Yes, xx is xxxxxxxx xxxx xx company write xxx xxxxxxxx down to xxxxxxxxxxx xxxx xx xxx realizable xxxxxx At xxx xxxx xxx if xxx inventory value xx higher than the realizable value, it is required xx reduce the xxxxxxxxx xx xxxxxx x xxxxxxxxxx
xx xxxx xxxxxx does xxx xxxxxxx xxx to determine xxx xxxx of its inventory?
First-in, xxxxxxxxx
xxxxx xxx you xxxx this information?
Notes to the Consolidated xxxxxxxxx Statements. xxxx x x xxxxxxx of Significant

 

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xxxx Evaluating Four Alternative xxxxxxxxx xxxxxxx xxxxx xx Income and xxxx Flow LO7-2, 7-3
xx xxx xxx xx January 2014, xxx xxxxxxx xx Donner Company xxxxxx xxx xxxxxxxxx for x particular xxxx that sold xx xxx xxx xxxxx
Transactions ????Units Amount
??xxxxxxxxxx January 1, xxxx500 $2,365
??xxxxxxxxx January 12 xxxx 3,600
??Purchase, January xx160 x 1,280
??Salexxxxx
??xxxx xxxxx
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xxx Compute Cost xx Goods Sold under xxxx method xx inventory: average cost, FIFO, xxxxx and xxxxxxxx xxxxxxxxxxxxxxx xxx specific
xxxxxxxxxxxxxxx xxxxxx that the first sale xxx xxxxxxxx from the xxxxxxxxx inventory xxx xxx xxxxxx xxxx was selected xxxx xxx
xxxxxxx xx xxxxxxxxx xxxxxx unit price?to 2 decimal places. xxxxx all xxxxxxx xx positive xxxxxxxx
Input xxxxx are shaded.
xxxxxxx xxxxCost xx xxxx Available for xxxx Cost of xxxxx Sold
# of xxxxxxxxx xxx UnitCost of xxxxx Available for xxxx # of Units Sold xxxx per xxxx xxxx xx Goods xxxx
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This paper was answered on 19-Jul-2017

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