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What is Neiderhoff’s estimated ending inventory

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What is Neiderhoff’s estimated ending inventory 1. The following information is available through June 2011 for Kimchee Company: Beginning inventory W 50,000,000 Purchases 150,000,000 Sales 300,000,000 Markup on sales 40% On June 29, a fire completely destroyed Kimchee’s inventory. Using the gross profit method, the estimated value of the inventory destroyed is a. W100,000,000. b. W80,000,000. c. W40,000,000. d. W20,000,000. 2. Major Grey Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost Retail Beginning inventory Rs 30,000,000 Rs 50,000,000 Purchases 145,000,000 200,000,000 Freight-in 2,500,000 Sales 205,000,000 What cost to retail ratio should be used to estimate ending inventory? a. Rs177,500,000 ÷ Rs250,000,000 b. Rs177,500,000 ÷ Rs455,000,000 c. Rs175,000,000 ÷ Rs250,000,000. d. Rs175,000,000 ÷ Rs255,000,000 3. Neiderhoff Inc. uses the retail inventory method to value its merchandise inventory. The following information is available for 2011: Cost Retail Inventory, 1/1/2011 € 4,670,000 € 9,340,000 Purchases 21,196,000 45,604,000 Freight-in 2,712,000 Sales 46,702,000 What is Neiderhoff’s estimated ending inventory? a. €3,880,000 b. €3,956,000 c. €4,287,000 d. €8,242,000 4. The following information is available for 2011 for Greenwich Company: Beginning inventory £ 5,632,000 Purchases 15,998,000 Sales 30,000,000 Markup on Sales 35% In May 2011, a flood washed away Greenwich’s inventory. Using the gross profit method, the estimated value of the inventory destroyed is: a. £7,570,500 b. £5,599,300 c. £2,130,000 d. £1,050,000 5. Mishu Inc. uses the retail inventory method to value its merchandise inventory. The following information is available for 2011: Cost Retail Beginning inventory, ¥ 101,000,000 ¥ 303,000,000 Purchases 941,000,000 2,832,000,000 Freight-in 3,000,000 Sales 2,935,000,000 What is Mishu’s estimated ending inventory? a. ¥33,990,000 b. ¥66,000,000 c. ¥134,000,000 d. ¥200,000,000 Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

What is Neiderhoff’s estimated ending inventory

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