Question: please help thank you so much ! P6.10 (Lo 6), AP Suzuki Company lost all of its inventory in a fire on December 26, 2022.
"P6.10 (Lo 6), AP Suzuki Company lost all of its inventory in a fire on December 26, 2022. The accountingrecords showed the following inventory-related data for November and December. Suzuki is fully insured for fire losses but must prepare a report for the insurance company. Instructions a. Compute the gross profit rate for November. b. Using the gross profit rate for November, determine the estimated cost of the inventory lost in the fire: (P6.1. (LO 6), AP Dixon Books uses the retail inventory method to estimate its monthly ending inventorics. The following information is available for two of its departments at October 31, 2022 . At December 31, Dixon Books takes a physical inventory at retail. The actual retail values of the inventories in each department are Hardcovers $790,000 and Paperbacks $335,000. Instructions a. Determine the estimated cost of the ending inventory for each department at October 31, 2022, using the retail inventory method. b. Compute the ending inventory at cost for each department at December 31 , assuming the cost-toretail ratios for the year are 65% for Hardcovers and 75% for Paperbacks
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