What inventory cost flow method does Tootsie Roll Industries use for U.S. inventories? What method does it

Question:

What inventory cost flow method does Tootsie Roll Industries use for U.S. inventories? What method does it use for foreign inventories? Why does it use a different method for foreign inventories?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Tools for business decision making

ISBN: 978-0470095461

4th Edition

Authors: kimmel, weygandt, kieso

Question Posted: Mar 02, 2012 02:07 AM

See More Questions

What inventory cost flow assumptions are permissible under GAAP?
What inventory cost flow does PepsiCo use for its inventories? (Hint: you will need to examine the notes for PepsiCos financial statements.)
What inventory cost flow does Apple use for its inventories?
Craps is a dice game in which two fair dice are cast. If the roller shoots a 7 or 11 on the rst roll, he or she wins. If the roller shoots a 2, 3, or 12 on the rst roll, he or she loses. (a) Compute...
The income statement for Postmedia Network Canada Corp. follows: Instructions (a) Using horizontal analysis, calculate the horizontal percentage of a base-year amount, assuming 2010 is the base year....
Show the details of going from (49.19) to (49.20). Data From Equation 49.19 and 49.20:- 2mik Ri(k;r) ji(kr) - So dr'r' ji(kr
The Dow Jones Industrial Average is an average of the prices of 30 industrial stocks with equal weights applied to all 30 stocks (but the sum of the weights is greater than 1). Occasionally (about...
Millhouse graduated 5 years ago with a degree in business administration and is currently employed as a middle level manager for the same firecracker company his dad already worked for. His current...
3. On the General server, use vi/vim to create a file called circle.c and enter the following C code: #include int main() { } float radius, area; printf("Enter the radius: "); scanf("%f", &radius);...
The Wearever Carpet Company manufactures two brands of carpetshag and sculpturedin 100-yard lots. It requires 8 hours to produce one lot of shag carpet and 6 hours to produce one lot of sculptured...
Katz Hat Shop received a shipment of hats for which it paid the wholesaler $2,940. The price of the hats was $3,000, but Katz was given a $60 cash discount and required to pay freight charges of $75....
What cost flow assumption may be used under the lower-of-cost-or-market basis of accounting for inventories?
Find the equation of a circular cylinder with the origin on the axis of the cylinder, the unit vector a along the axis and radius R.
Following up on question number 3, assume the school conducts a manifestation determination meeting. Tim attends the meeting with his parents. At the meeting, Tim tells the team that smoking helps...
The need for a rabbi trust would be indicated in which of the following situations? I. An acquisition. II. Bankruptcy. III. Hostile takeover. IV. Mergers. A. I, IV. B. I, II, III. C. II, III. D. I,...
The state of Georgia's Department of Human Resources (DHR) updated its performance management system. The performance management process is used for all employees who are to receive performance...
The goal in this exercise is to conduct a multisource feedback system regarding your performance in this class. First, create a list of competencies that are related to the performance of a student...
ANCAP Oil Co. stock has a PE ratio equal to 22, whereas VRC Oil has a PE ratio equal to 20. Both firms earnings per share are $$1.12.$ Calculate both firms stock prices. In the IPO, eBay issued...
An ideal gas undergoes an adiabatic, reversible expansion process in a closed system: (a) If cp is constant, show that: (b) Determine the relationship between temperatures and pressures for an ideal...
Outline some of the major problems confronting an international advertiser.
Evaluate. (A) 4! (B) 7!/6! (C) 8!/5!
When determining the minimum transfer price, what is meant by the opportunity cost?
In what circumstances will a negotiated transfer price be used instead of a market-based price?
Explain how companies use transfer pricing between divisions located in different countries to reduce tax payments, and discuss the propriety of this approach.
The uniform meterstick has an object with mass 800 grams hanging at the 15cm mark and an object with mass 350 grams at the 70cm mark. It balances horizontally on a pivot placed at the 35cm mark. What...
Compared to Windows environments, is UNIX system friendlier for digital investigation? Discuss this question from the following aspects: UNIX as the platform for forensic investigation and UNIX as...
13) Imagine that in your monthly entertainment budget, you have $156 to spend on movies and books, which cost $8 and $20 respectively. Use the data in the table below to decide what combination of...

What inventory cost flow method does Tootsie Roll Industries use for U.S. inventories? What method does it

Question:

Step by Step Answer:

Tootsie Roll uses LIFO for US inventori...View the full answer

Accounting Tools for business decision making

Students also viewed these Managerial Accounting questions