Inventory Valuation 1 Lewis Corporation Case: 6-2 Page: 173 2 Lewis Corporation Traditionally used inventory valuation method: FIFO Uses periodic inventory system 3 Inventory Transaction 2005-2007 No. of Cartons Price per Carton 2005 2006 2007 2005 2006 2007 Beginning balance 1840 1020 1040 $20.00 Purchases 600 700 1000 $20.25 $21.50 $22.50 800 700 700 $21.00 $21.50 $22.75 400 700 700 $21.25 $22.00 $23.00 200 1000 700 $21.50 $22.25 $23.50 Sales 2820 3080 2950 $34
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1. INVENTORY A in X The inventory of Product A and data on purchases and sales for a two-month period in Company X follow. Company X closes its books at the end of each month. It uses a periodic inventory system. Apr. 1 10 17 30 Beginning inventory Purchase Sale Ending inventory 50 units 100 units 90 units 60 units @€204 @€220 May 2 14 22 30 31 Purchase Purchase Purchase Sale Ending inventory 100 units 50 units 60 units 200 units 70 units @€216
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Is Authoritative Leadership more Effective than Collaborative Leadership? In life‚ the concept of leadership is brought up very often whether it is in childhood‚ adolescence‚ or adulthood. It is an extremely valuable and rare personality to possess as not many people are born leaders. By having experience as a leader‚ one gets separated from the rest of society from strength. There are two main types of leadership: authoritative leadership and collaborative leadership. However‚ authoritative leadership
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make children more successful. The three main types of parenting styles are authoritarian‚ permissive‚ and authoritative. Authoritarian parenting has high demands and low responsiveness while permissive parenting has low demands and high responsiveness. Authoritative parenting has more of a balance of demand and responsiveness. Research suggest that Asian-Americans have more of an authoritative parenting style. As a child of Asian-American parents‚ that was an interesting piece of information to
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objectives and the roles of financial accounting “Accounting is an information system that identifies‚ records‚ and communicates the economic events of an organization to interested users.”1. The basic objective of accounting is to provide information to the interested users to enable them to make business decisions and “Financial statements are the primary means of communicating financial information to parties outside the business organization.”2. Moreover‚ accounting can give the essential information
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Primary users Financial accounting : the primary users of financial accounting are the external users‚ shareholders‚ investors ‚ creditors‚ lenders and government. Share holders are using financial information to know about their investment e.g how the investment is running‚ what is the organization profit and what is the value of the organization. Investors use financial information to know in which organization they should invest and to look how was the organsation performance in the past so
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CHAPTER II REVIEW OF RELATED LITERATURE AND STUDIES 2.1Foreign Related Studies 2.1.1 Computerized Inventory Management System According to Thomas M. McHugh (2011) computerized inventory management systems provide many benefits that are hard to obtain using paper methods or an in-house spreadsheet. Systems that are specific to the lab can be used relatively quickly without a significant learning curve or system customization. The ability to analyze the inventory‚ item usage‚ purchasing history‚
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GUIDANCE WORK WITH INDIVIDUALS Career planning is a process which helps someone to make a well informed realistic decision (WIRD) about a career. It is a step by step process to help make a transition and can help to measure the progress made (route map) by first establishing which way is forward. Step One: Engagement / Motivation. The first step is the most crucial one. There could be a number of reasons why someone is not engaging‚ such as fear or attitude. A person first of all needs
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Topic7 Inventory 1 Identify the primary authoritative guidance for the accounting for inventories. What is the predecessor literature? FASB ASC 330 Inventory provides primary authoritative guidance for the accounting for inventory. The predecessor literature about it is Accounting Research Bulletins (ARB) No.43 Chapter 4‚ paragraph 4 (Issued June‚ 1953) and Statement of Financial Accounting Standard (FAS) NO.151 Inventory cost- an amendment of ARB No.43‚ Chapter 4 (Issued November‚ 2004).
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Chapter 2 What is Literature and Does it Matter? What is literature? You’d think this would be a central question for literary theory‚ but in fact it has not seemed to matter very much. Why should this be? There appear to be two main reasons. First‚ since theory itself intermingles ideas from philosophy‚ linguistics‚ history‚ political theory‚ and psychoanalysis‚ why should theorists worry about whether the texts they’re reading are literary or not? For students and teachers of literature today there
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