Examlex

Solved

Rectangle Ltd Manufactures Cardboard Boxes for a Variety of Purposes

question 21

Multiple Choice

Rectangle Ltd manufactures cardboard boxes for a variety of purposes.The following information relates to the production of the extra large packing boxes used by removalists for the period ended 30 June 2003. Rectangle Ltd manufactures cardboard boxes for a variety of purposes.The following information relates to the production of the extra large packing boxes used by removalists for the period ended 30 June 2003.   The company uses a perpetual inventory system.The net realisable value per extra large cardboard box is $3.15 at the end of the period.What are the costs of goods sold and the value of ending inventory for Rectangle Ltd assuming the LIFO cost-flow assumption is used? A)  Cost of sales: $3,460.40 Ending inventory: $380.00 B)  Cost of sales: $3,453.90 Ending inventory: $393.75 C)  Cost of sales: $3,459.41 Ending inventory: $380.99 D)  Cost of sales: $3,453.90 Ending inventory: $386.50 E)  None of the given answers. The company uses a perpetual inventory system.The net realisable value per extra large cardboard box is $3.15 at the end of the period.What are the costs of goods sold and the value of ending inventory for Rectangle Ltd assuming the LIFO cost-flow assumption is used?


Definitions:

Constructive Criticism

A feedback process aimed at offering helpful suggestions and insights for improvement in a supportive manner.

Self-disclosure

The act of revealing personal, intimate details about oneself to others.

Self-awareness

The conscious knowledge of one's own character, feelings, motives, and desires.

Strained Work Relationships

Situations where interactions between colleagues are characterized by tension, disagreements, or conflict, often affecting productivity and workplace harmony.

Related Questions