You are provided with the following information for Najera Inc. for the month ended June 30, 2017. Najera uses the periodic method for inventory.

Date

Description

Quantity

Unit Cost or
Selling Price

June

1

Beginning inventory

45

$42

June

4

Purchase

136

46

June

10

Sale

113

69

June

11

Sale return

15

69

June

18

Purchase

54

48

June

18

Purchase return

12

48

June

25

Sale

68

74

June

28

Purchase

35

52

(a1)

Calculate cost per unit. (Round answer to 2 decimal places, e. g. 5.25.)

Weighted-average cost per unit

$46.44

(a2)

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e. g. 1,250.25 and other answers to 0 decimal places, e. g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.)

LIFO

FIFO

AVERAGE-COST

The ending inventory

$

$

$

The cost of goods sold

$

$

$

Gross profit

$

$

$

Grace period is a period of time before the credit card company starts charging late fees.truefalse

Lo.2, 3, 9 lori, who is single, purchased 5-years class property for $200,00 and 7-years class property for $420,000 on may 20, 2018. lori experts the taxable income derived form the business (without regard to the amount expensed under ⧠179) to be about $550,000. lori has determined that she should elect immediate ⧠179 expensing in the amount of $520,000, but she doesn’t know which asset she should completely expense under ⧠179. she does not claim any available additional first-year depreciation. a. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 5-year class asset. b. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 7-year class asset. c. what is your advice for lori? d. assume that lori is in the 24% marginal tax bracket and that she uses ⧠179 on the 7-year asset. determine the present value of the tax savings from the depreciation deductions for both assets. see appendix g for present value factors, and assume a 6% discount rate. e. assume the same facts as in part (d), except that lori decides not to use ⧠179 on either asset. determine the present value of the tax savings under this choice. in addition, determine which option lori should choose. f. present your solution to parts (d) and (e) of the problem in a spreadsheet using appropriate microsoft excel formulas. e-mail your spreadsheet to your instructor with a two-paragraph summary of your findings.

Most angel investors expect a return on investment of question options: 20% to 25% over 5 years. 15% to 20% over 5 years. 75% over 10 years. 100% over 5 years.