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Information related to Bledsoe Corporation’s inventory, as of December 31,2007, follows:Estimated selling price $3500000Estimated disposal costs 50000Estimated completions 3000000Original FIFO cost 3200000Replacement cost 3300000 Using the appropriate valuation method, what adjustment is necessary to accurately report Bledsoe’ s inventory at the end of 2007, and will this adjustment affect Bledsoe’ s quick ratio Adjustment Quick ratio ①A. $ 50000 write-down Yes ②B. $ 50000 write-down No ③C. $100000 write-up No
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A company reported the following for the year: Net sales $ 500 Increase in accounts receivable 20 Decrease in accounts payable 40 Increase in inventory 30 Sale of new common stock 100 Repayment of debt 10 Depreciation 2 Net income 100 Interest expense on debt 5 The company’s cash flow from operations(CFO) and cash flow from investing(CFI) are closest to ; CFO CFI ①A. $12 $100 ②B. $12 $0 ③C. $92 $100
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