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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

3- Solve the following second order ODE.xy" -COSy' + sin x y = 0, x>0

Biology
1.2K views

A researcher wants to clone genes using recombinant gene technology as part of a genome sequencing...

Accounting
1.2K views

Using the information from_ Nilson Inc. had accounting income of $156,000 in 2017. Included in the calculation...

Basic Math
1.2K views

ntervals Questi Pa In a survey of 3307 adults 147 Construct a 99 confidence int

Basic Math
1.2K views

No late submissions will be accepted Problem 1 For each function find the amplitude range...

Basic Math
1.2K views

The population of Suffolk County in Massachusetts decreased from 663,906 in 1990 to 641,695 in...

Basic Math
1.2K views

Complete the sentence below. If 9^x = 9^6, then x = If 9^3x = 9^6,...

Calculus
1.2K views

One standard for admission to Redfield College is that the student must rank in the...

Accounting
1.2K views

The management accountant for Giada's Book Store has prepared the following income statement...

Accounting
1.2K views

On January 1,2021, Eagle Company borrows $100,000 cash by signing a four- year, 7% installment...

Accounting
1.2K views

***PLEASE FILL OUT THE 5 WHITE BLANKS EVERYTHING ELSE IS CORRECT**** Members...

Accounting
1.2K views

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ...