1 answer

-Final Quiz 2 0 Help Save & Exit Submit Mitchell Company was authorized to issue 58.000...

Question:

-Final Quiz 2 0 Help Save & Exit Submit Mitchell Company was authorized to issue 58.000 shares of common stock. The company i
Rosierre Company purchased two identical inventory items. One of the items cost $6.00 and was purchased in January. The other
-Final Quiz 2 0 Help Save & Exit Submit Mitchell Company was authorized to issue 58.000 shares of common stock. The company issued 31,000 shares of stock and later purchased 5,800 shares of treasury stock. The number of outstanding shares of common stock is: Multiple Choice O 32,800 o 21,200 25,200. 52,200 < Prev 9 of 10 Next >
Rosierre Company purchased two identical inventory items. One of the items cost $6.00 and was purchased in January. The other was purchased in February, and the company paid $7.00 for this item. One of the items was sold in March at a price of $10.00 Select the correct answer assuming that Rosierre uses a FIFO cost flow assumption Multiple Choice The amount of ending inventory would be $6.00, C) The balance in ending inventory would be $7.00, The amount of ending inventory would be $6.50. The amount of gross margin would be $3.00. of 10 : Next > < Prev MacBook Air

Answers

9) treasury stock is not a part of outstanding shares .

Hence outstanding shares

= 31000 - 5800

= 25200

Answer is option c.

4) since FIFO assumption is used item purchased first would be sold first and so ending inventory will consist of second item

So ending inventory will be cost of second part that is $7.00

Answer is option b.

Feel free to ask any queries...

Also plz upvote it means a lot..thank you

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