Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer problem #13 part b, showing all work

Please answer problem #13 part B, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!...

60.1K

Verified Solution

Question

Accounting

Please answer problem #13 part B, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!
image
image
On December 1, Martinez Electronics has three DVD players left in stock All are identical. all are priced to sell at $ 90. One of the three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $ 55. Another with serial #1045. was purchased on November 1 for $51. The last player , serial #1056, was purchased on November 30 for $ 42. (a) Your answer is correct Calculate the cost of goods sold using the FIFO periodic inventory method, assuming that two of the three players were sold by the end of December, Martinez Electronics' year-end, The cost of goods sold using the FIFO $ 106 (b) If Martinez Electronics used the specific identification method instead of the FIFO method, how might it alter its earnings by "selectively choosing which particular players to sell to the two customers? What would Martinez's cost of goods sold be if the company wished to minimize earnings? Maximize earnings? Cost of goods sold would be $ if it wished to minimize the earnings. Cost of goods sold would be $ if it wished to maximize the earnings

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A sociologist studied random samples of full-time employees in a particular occupation – six women and...

Statistics
Q

I am trying to plot a difficult function in MATLAB, however I need to understand the...

Electrical Engineering
Q

E F qE k 9 0x10 10 9 8 7 6 Q Q Nm C...

Physics
Q

Which of the images below best represent Select one O a 18

Geometry
Q

It is believed that Lake Tahoe Community College LTCC Intermediate Algebra students get less than...

Statistics
Q

A machine costing $185,000 with a 5-year life and $20,000 residual value was purchased January...

Accounting
Q

Which of the following factors would suggest the use of a perpetual inventory system? 1)...

Accounting
Q

Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following...

Accounting
Q

Question 1 Draw or construct a Production Possibilities Curve based on the following Production Possibilities...

Accounting
Q

Which of the following is not an expense account associated with the food and beverage...

Accounting
Q

For 2020, a companys net capital spending was $3,400,000, its depreciation expense was $800,000, and...

Finance
Q

Prove if the minimal polynomial of T (linear operator) is of the form p(t)=(phi(t))^m ,...

Accounting