A company provided the following data: sales, $500,000; beginning inventory, $45,000; ending inventory, $40,000; and gross profit, $150,000. What was the amount of inventory purchased during the year? Enter your answer without a comma, decimal point, or dollar sign.

Appaloosa Company uses the LIFO method to assign costs to inventory and cost of goods sold. They began the period with 150 units in their inventory. Each of those units was purchased for $5. In June, Appaloosa purchased 85 units for $4 each. On November 5th, the firm sold 165 units for $7.50. What amounts would be reported as the ending inventory balance for the year? Enter your answer without a dollar sign, decimal point, or a comma. 

Cali Co. acquires a piece of equipment from Flo Co. In exchange, Cali issues 50 shares of common stock in Cali Co. to Flo. On Cali’s Statement of Cash Flows, this exchange will appear in the investing section. 

Arizona Imaging reported net income of $35,000 for the current year. During the year, Inventory decreased by $6,000, Accounts Payable increased by $7,200, Long-term Notes Payable decreased by $25,000, Depreciation Expense was $9,000, gain on the sale of a piece of equipment was $1,500, and Prepaid Expenses increased by $4,500. If the indirect method is used to calculate the operating section on the Statement of Cash Flows, what is the net cash provided (used) by operating activities? Enter your answer without a comma, decimal point, or dollar sign. 

In periods of rising purchase prices and increasing inventory quantities, LIFO results in a _____ than the FIFO cost-flow assumption. 

Use the following about Cat Company to answer this question: Net income $12,000   Depreciation expense $1,100 Cash dividends paid to stockholders $2,900   Cash proceeds from sale of land $3,450   Cash proceeds from bank loan $7,700   Cash payment (principal) on bank loan $2,000   Cash paid to purchase equipment $5,800  The company would report net cash provided by (used in) financing activities of what amount?  Enter your answer without a comma, decimal point, or dollar sign. 

Which of the following explanations is plausible when looking at inventory and COGS? Note that COGS % is defined as COGS/Sales; Inventory Turnover is defined as COGS/Average Inventory; Margin is defined as Sales – COGS.

The inventory turnover

Use the following information about Horse Company to answer this question: Net income $12,000   Depreciation expense $1,100 Cash dividends paid to stockholders $2,800   Cash proceeds from sale of land $3,350   Cash proceeds from bank loan $7,600   Cash payment (principal) on bank loan $2,100   Cash paid to purchase equipment $5,500  The company would report net cash provided by (used in) financing activities of what amount?  Enter your answer without a comma, decimal point, or dollar sign. 

Liquidity ratios concentrate on: