Benneett Basketball sells a variety of basketball and accessories. Information follows Bennett Basket-ball's purchase during February and March for UP-Snap, one of its top brands of basketballs.

Purchases Sales

Units Unit Cost Units Unit Price

Feb.7 18 32

Feb.23 50 $20

Feb.26 50 30

Mar.10 24 19

Mar.23 32 29

Benett uses a perpetual inventory system. On Feburary1, Bennett had 36 units on hand A COST OF $21 EACH. aLL purchases and sales during February and March were on account.

Instructions: (A) Determine the cost of goods sold and ending inventory under a perpetual inventory system using (1) FIFO and (2) weighted average. (rOUND THE WEIGHTED AVERAGE COST PER UNIT TO TWO DECIMAL PLACES). (B) Calculate gross profit using (1) FIFO AND (2) WEIGHTED AVERAGE

Pristine Holdings operates two types of retail stores, branded as BlueStores and GreenStores. Selected ratios for these stores are given below:

One brand caters for the upscale market while the other serves the price competitive mass market.

Required:

1. Discuss which of these brands likely caters for the upscale market and which one is price competitive. Justify your views.

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2. A manager in Pristine Holdings mentions that the organisation pays close attention to the inventory levels in its retail chains. Pristine Holdings applies the ‘ABC’ system whereby selective levels of control are applied to different categories of inventory. Discuss these levels of control and indicate which of these categories are likely to be relevant to BlueStores and GreenStores, respectively.

Cash Received before Revenue is Earned (Deferred Revenue)

1) The Insurance Company in (1) above received the cash paid by Nordstrom. What is the entry to record on the books of the Insurance Company?

Entry on the books of the Insurance Company

2) The Insurance Company provides protection for the next 12 months. What is the entry on a monthly basis?

3) On March 1, a friend gives you a $100 Nordstrom gift card. How does Nordstrom record this entry?4) You redeem your gift card. How does Nordstrom record this entry on March 31?

Expense Incurred before Cash is Paid (Accrued Liability/Accrued Expense)

1) Nordstrom pays a total of $280,000 in wages every other Friday. What is the journal entry on June 14th?

2) Nordstrom owes employees’ wages for the last two days of June and must recognize an expense for the wages earned by employees for those days. Assume the store is open seven days a week and the daily cost is 1/14th of the biweekly amount of $280,000 or 20,000. What is the entry to adjust the records for the last two days of the month (June)?

3) Using information obtained from (1) and (2) above. What entry will be made on the next payday (July 12)?

4) Assume Granger Company takes out a 9%, 90-day, $20,000 loan with its bank on March 1. Granger will repay the principal and interest on May 30. What is the entry on Granger’s books?

5) What is the entry to record 1 month of interest at the end of March? April? 6) What is the entry when Granger repays the principal and interest on May 30?

Revenue Earned before Cash is Received (Accrued Asset/Accrued Revenue)

1) Grant Management Company rents warehouse space to tenants. The contract calls for prepayment of rent for six months at a time. Grant allows one tenant to pay $2,500 in monthly rent anytime within the first ten days of the following month. The entry on Grants books at April 30 is?

2) What is the entry when the tenant pays the rent on May 7?

Exercise 2:

1) ABC purchases a 24 month fire insurance policy on January 1 for 54,000? What is the Journal Entry on January 31?

2) On April 1, GHI Corp took out a 12% 120 day, $10,000 loan at its bank. What is the journal entry on April 30?

For the data set

(a) Find the 79th percentile.

(b) Find the 44th percentile.

(c)Find 19th percentile.

(d) Find the 66th percentile.

A stock is currently selling on the NYSE for $40 per share. Based on the last twelve months, this represents a P/E ratio of 12.5 and a dividend yield of 4.8%. After an analysis of all the relevant variables, you estimate that the dividends per share will grow at an annual compouind rate of 8% and that GMA will maintain the same payout ratio each year as the previous year. GMA stock is expected to sell at a 15 P/E ratio at he end of the third year. Your required rate of return is 12% per year. Based on a three-year investment horizon and assuming that all your estimates are correct, how much is the stock currently over or under priced?

listing the five greatest advances in the field of immunology in the last 40 years. Of course, this is a matter of opinion (to a reasonable extent), Be sure to include reasons for selecting the options you chose.

An investment will pay $10 at the end of each of the next 3 years, $40 at the end of Year 4, $50 at the end of Year 5, and $60 at the end of Year 6. If other investments of equal risk earn 8% annually, what is this investment’s future value?

A railroad car of mass 18800 kg moving at
3.85 m/s collides and couples with two coupled railroad cars, each of the same mass as
the single car and moving in the same direction at 2.31 m/s.

How much kinetic energy is lost in the collision?
Answer in units of J.

A car with mass 1309 kg is travelling north at a speed of 28.9 m/s. It collides at right angles with a truck (m=2733 kg) travelling east at 16.6 m/s and the two vehicles stick together after the collision. How much kinetic energy is lost during the collision?

Gretchen wants to know whether gender has a relationship to beverage choice among her coworkers. She defines beverage choice as the first beverage consumed upon arrival at work and selects a random sample of her coworkers. She records her coworkers' consumption habits one morning and the results are shown in the table. Is there sufficient evidence at the 0.05 level to say that gender and beverage choice are related?

Observed Sample of 90 Coworkers:

1.  State the hypotheses for this test

2. Determine the number of females whose first choice was expected to be water.
Possible Answers: A: 9.92 B: 20.3 C:14.82 D:11.0

3. Compute the value of the X² test statistic.
Possible Answers: A:  0.196 B: 4.686 C: 10.773 D: 11.212

4. State the conclusion of this hypothesis test.
Possible Answers: A: Reject H0. There is enough evidence to support the claim that gender and beverage choice are related.
B: Fail to reject H0. There is not enough evidence to support the claim that the means of the two genders are the same.
C: Reject H0; There is enough evidence to state that females prefer to drink tea.
D: Fail to reject H0. There is not enough evidence to support the claim that gender and beverage are related.

I need help walking through the steps - I am making errors along the way, don't have too many issues with 1&4 but the middle is a little iffy.