• Topps Company’s Annual Report
    businesses balance sheets, it is important for corporations to be able to completely understand cost flow methods. The Topps Company uses the first-in-first-out (FIFO) cost flow method to account for inventory. Edmonds (2010) explains, “The first-in, first-out (FIFO) cost flow method requires that...
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  • Topps Company Inc Report
    for 2006 was 68 days, and 64 days in 2005. According to these figures, it shows that in 2006 it took Topps Company four days longer to sell their product than in 2005. This is an indication that the management of inventory is getting worse. C. What cost flow method(s) did Topps use to account...
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  • Topps Company Inventory Evaluation
    days the product is in the warehouse will increase profitability for the Topps Company. When products are sold, products in the Inventory account are transferred to the Cost of Goods Sold account (Edmonds, Olds, McNair, & Tsay, 2010). There are four different types of cost flow methods that can...
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  • Topps Restructure
    , average days it took to sell the inventory, if the company was being well managed and which cash flow method did Topps use to account for the inventory. In order to work out the figures the facts will be gathered from the company’s Consolidated Statements of Operations report (Edmonds, Appendix B...
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  • Topps
    Topps 1 Topps Company ACC281: Accounting Concepts for Health Care Professionals Instructor: Susan Paris April 23, 2012 Topps 2 Topps Company Inventory turnover ratio is the cost of goods sold to inventory that indicates how many times a year...
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  • Answers
    | |= $2,300 | Coca-Cola is slightly more solvent than PepsiCo. Both companies have similar debt to total assets and cash debt coverage ratios. Coca-Cola has more free cash flow but a much lower times interest earned ratio...
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  • Topps Company Inventory
    their bottom line. In the following paragraphs a discussion on their inventory turnover ratio, how the management of the inventory is working and the cost flow method used in their inventory. Inventory turnover ratio is the cost of sales divided by ending inventory. There are other versions of...
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  • Topps Assignment 2
    getting better or worse? After finding the inventory ratio and the average days the company had to sell each year, Topps is slowly getting worse. In 2005, they had 4 days less to sell inventory and sold a .36 percent more inventory than in 2006. c. What cost flow method(s) did Topps use to...
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  • Topps Company Annual Report
    company’s management of inventory is getting worse. The inventory turned over 5.74 times in 2005, but only 5.68 times in 2006. Topps Company, Inc used the first-in-first-out (FIFO) cost flow method to account for inventory. This method “Requires that the cost of the items purchased first be assigned to...
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  • Ashford Acc281
    management of the inventory? Finally, what was the method of cash flow used by the Topps Company to account for its inventory? The inventory turnover ratio is the cost of the goods sold divided by the inventory (Edmonds, pg. 165). The Topps Company’s cost of the goods sold in 2006 was $198,054 and in 2005...
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  • Topps Company
    their bottom line. In this paper I will discuss the company’s inventory turnover ratio, how whether the management of inventory is getting better or worse, and the cost flow method used in their inventory. Inventory turnover ratio is the cost of goods sold divided by the inventory. There are...
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  • Audit Paper
    industry. The Topps Company also has social concerns that they must be careful. With their business aimed toward children such as candy, magic cards and entertainment cards, Topps has to make sure that their products are free from harm whether if it is physically or mentally. Magic card games are...
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  • : Understanding Real World Financial Reports
    products due to lower sales, also put pressure on gross profit margins. (Edmonds 623) What cost flow method(s) did Topps use to account for inventory? Cost flow methods for Topps’ consist of a first in, first out basis. Since Topps’ consist of confectionaries (candy, gum etc.) doing inventory this...
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  • Topps Annual Report
    inventory turnover ratio is, it is important to define it. Inventory turnover ratio is the cost of goods sold divided by inventory (Edmonds, et al., 2007). It measures the amount of times a company sells its inventory throughout their fiscal year. The higher this number is, the better off the...
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  • Doctor
    cost of construction is estimated to be £3 million. Plc Annual Report and Financial Statements 2010 Independent auditors’ report to the members of Topps Tiles Plc 63 We have audited the parent company financial statements of Topps Tiles Plc for the period ended 2 October 2010 which...
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  • Financial Statement Analysis
    method used. This depresses the current ratio. In practice, certain companies voluntarily disclose the current cost of inventory, usually in a note. ANALYSIS EXCERPT Toro Company’s initial venture into snowblowers was less than successful. Toro reasoned that snowblowers were a perfect complement to...
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  • Finance Accounting
    , specific identification, and average cost are all acceptable inventory meth- ods. Firms are free to choose one of these methods and consistently apply it across periods. Interestingly, GAAP does not require that the assumed flow of costs corresponds to the actual flow of goods. Supermarkets...
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  • Kimmel Financial Accounting Solutions Ch12
    of cash flows using the indirect method. 5. Use the statement of cash flows to evaluate a company. *6. Prepare a statement of cash flows using the direct method. Summary of Questions by Study Objectives and Bloom’s Taxonomy |Item...
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  • ACCT 504
    : Loss on sale of equipment   3,500 Cash flow from sale of equipment $13,000 BRIEF EXERCISE 12-9 (a) Free cash flow = $127,260,000 – $221,160,000 – $0 = ($93,900,000) (b) Current cash debt coverage ratio = $127,260,000 ÷ $243,668,000 = .52 times (c) Cash debt coverage ratio...
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  • Pepsico vs. Coca-Cola
    amount of free cash flow which may be used to for investing or possibly debt retirement. G. Coke mainly monitors their debt levels with an interest coverage ratio. This is also known as times interest earned ratio (TIE). EBIT/Interest Expense. This ratio calculates how many times over a company...
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