Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Aug 2017 My Price 8.00

software City

"Late in the year, software City began carrying WordCrafter, a new word processing software program. At December 31, Software City’s perpetual inventory records included the following cost layers in its inventory of WordCrafter programs: Purchase Date Qty Unit Cost Total Cost Nov 14. 8, $400, $3,200 Dec 12. 20, 310, 6,200 Total available for sale at Dec 31. 28, $9,400(TC) b) Now assume that the current replacement cost of the WordCrafter programs is $405 each. A physical inventory finds only 25 of these programs on hand at December 31. 1. Prepare the journal entry to record the shrinkage loss assuming that Software City uses the FiFO flow assumption. 2. Prepare the journal entry to record the shrinkage loss assuming that Software city uses the LIFO flow assumption. 3. Which cost flow assumption (FIFO or LIFO) results in the lowest net income for the period? Would using this assumption really mean that the company’s operation are less efficient? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Aug 2017 02:08 PM My Price 8.00

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