Purchased $40,250 of merchandise on credit from locust, terms n/30. tyrell uses the perpetual inventory system. may 19 replaced the april 20 account payable to locust with a 90-day, $35,000 note bearing 10% annual interest along with paying $5,250 in cash. july 8 borrowed $80,000 cash from nbr bank by signing a 120-day, 9% interest-bearing note with a face value of $80,000. paid the amount due on the note to locust at the maturity date. paid the amount due on the note to nbr bank at the maturity date. nov. 28 borrowed $42,000 cash from fargo bank by signing a 60-day, 8% interest-bearing note with a face value of $42,000. dec. 31 recorded an adjusting entry for accrued interest on the note to fargo bank.

Clonex labs, inc., uses the weighted-average method in its process costing system. the following data are available for one department for october: percent completed units materials conversion work in process, october 1 53,000 90 % 65 % work in process, october 31 29,000 74 % 52 % the department started 381,000 units into production during the month and transferred 405,000 completed units to the next department. required: compute the equivalent units of production for october.

Blank is the internal operation that arranges information resources to support business performance and outcomes

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year. a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs. b. calculate the eoq. c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?