The following information is taken from the inventory records of the cnb company for the month of september: beginning inventory, 9/1/2018 6,000 units @ $10.00 purchases: 9/7 4,000 units @ $10.30 9/25 10,000 units @ $10.60 sales: 9/10 5,000 units 9/29 7,200 units 7,800 units were on hand at the end of september. required: 1. assuming that cnb uses a periodic inventory system and employs the average cost method, determine cost of goods sold for september and september's ending inventory. 2. repeat requirement 1 assuming that the company uses a perpetual inventory system.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Aminor has the legal right to repudiate

An investment offers a total return of 18 percent over the coming year. janice yellen thinks the total real return on this investment will be only 14 percent. what does janice believe the inflation rate will be over the next year?