Tim legler requires an estimate of the cost of goods lost by fire on march 9. merchandise on hand on january 1 was $38,390. purchases since january 1 were $92,340; freight-in, $4,700; purchase returns and allowances, $2,400.
sales are made at 33 1/3% above cost and totaled $123,600 to march 9. goods costing $11,850 were left undamaged by the fire; remaining goods were destroyed.

required:

(a) compute the cost of goods destroyed.

(b) compute the cost of goods destroyed, assuming that the gross profit is 33 1/3% of sales.

(round ratios for computational purposes to 5 decimal places, e. g. 78.72345% and final answer to 0 decimal places, e. g. 28,987.)

Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's

Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.