更多"The Baker Company uses the LIFO inv"的相关试题:
[单项选择]A company using the LIFO inventory method reports a LIFO reserve at year-end of $85 000, which is $20 000 lower than the prior year. If the company had used FIFO instead of LIFO in that year, the company’s financial statements would have reported:（）
A. a lower cost of goods sold, but a higher inventory balance.
B. a higher cost of goods sold, but a lower inventory balance.
C. both a higher cost of goods sold and a higher inventory balance.
[单项选择]The year-end balances in a company’s LIFO reserve are $ 56. 8 million in the company’s financial statements for both 2008 and 2009. For 2009, the measure that will most likely be the same regardless of whether the company uses the LIFO or FIFO inventory method is the:（ ）
A. inventory turnover.
B. gross profit margin.
C. amount of working capital.
[单项选择]Patch Grove Nursery uses the LIFO inventory accounting method. Maria Huff, president, wants to determine the financial statement impact of changing to the FIFO accounting method. Select company information follows: Year-end inventory $ 22000 Year-end LIFO reserve $ 4000 Beginning of year LIFO reserve $ 3000 LIFO cost of goods sold $1800 After-tax income $ 2000 Tax rate 40% Under FIFO, the nursery’s ending inventory and after-tax profit would be: FIFO ending inventory FIFO after-tax profit ①A. $18000 $1400 ②B. $18000 $ 2600 ③C. $ 26000 $ 2600
[单项选择]Sweet Milk Inc uses the LIFO inventory method and had 5000 units of beginning inventory on January 1,2002, that was valued at $10.00 a unit. The company purchased 50000 units at $12 a unit and sold 52000 units at $15 a unit. Sweet Milk is considering an additional purchase of 10000 units at $13 a unit. The company will make the purchase at the end of December or in the early part of year 2003. Which statement about the effect of the purchase decision on net income is most accurate（）
A. Making the purchase in December will increase income by $16000 in year 2002.
B. Income for year 2002 will not be affected no matter when the inventory is purchased.
C. Postponing the purchase until January will increase income for 2002 by $14000.
[单项选择]A company uses cash to pay off a short-term notes payable. If the company’s current ratio before the transaction is 2.0 times and the quick ratio was 1.0 times, how would this transaction affect the company’s current, quick and debt ratios Current ratio Quick ratio Debt-to-equity ratio（ ）
A. Increase Increase Decrease
B. Decrease Decrease Increase
C. Increase Remain unchanged Decrease
[简答题]
说明：假定你是Hongxia Trading Company的雇员王东，给客户Mr. Baker发一封电子邮件。
内容如下：
1．欢迎他来福州；
2．告诉他已在东方宾馆为他预订了房间；
3．告诉他从国际机场到达东方宾馆大约20公里左右，可以乘坐出租车或机场大巴；
4．建议他第二天来你的办公室洽谈业务；
5．如需帮助，请电话联系。
Words for Reference:
机场大巴 shuttle bus
An E-mail
Dear Mr. Baker,
[单项选择]Which of the following statements about the LIFO and FIFO inventory accounting methods is least accurate （）
A. For purposes of inventory analysis, FIFO is preferred over LIFO.
B. FIFO cost of goods sold--LIFO cost of goods sold-change in LIFO reserve.
C. In periods of declining prices, LIFO debt-to-equity ratios are higher than FIFO debt-to-equity ratios.
[判断题]In times of rising prices, the LIFO method of inventory valuation is more prudent than the FIFO method.
[单项选择]Under last in first out (LIFO) accounting during periods of inflation, when a firm sells a greater quantity of its inventory than it produces or acquires, the result is:（）
A. an understatement of the cost of goods sold.
B. lower earnings.
C. an increase in the leverage multiplier.
[单项选择]What’s Mr. Baker’s advice
[单项选择]Are you Mr. Baker from America（）
A. Never mind.
B. Yes, I am.
C. No problem.
D. Here it is.
[单项选择]Berkins uses Web services to
A. create job opportunities for agents.
B. allow agents to choose tasks.
C. pay its customers.
