Accounting Answers

ABE18-4
Using the following data from the comparative balance sheet of Rodenbeck Company, illustrate vertical analysis. (Round percentages to 1 decimal place, e.g. 10.5.)
December 31, 2011 December 31, 2010
Accounts receivable $ 516,380 $ 388,570
Inventory $ 859,930 $ 584,010
Total assets $ 3,161,700 $2,462,700

Vertical Analysis
Dec. 31, 2011
Dec. 31, 2010

Amount Percentage Amount Percentage
Accounts receivable ___$ ___% ___$ ___%
Inventory ___$ ___% ___$ ___%
Total assets ___$ ___% ___$ ___%

AE6-5
Catlet Co. uses a periodic inventory system. Its records show the following for the month of May in which 65 units were sold.
Date Explanation Units Unit Cost Total Cost
May 1 Inventory 30 $12.58 $377.40
May 15 Purchases 25 15.58 389.50
May 24 Purchases 35 16.58 580.30
Totals 90 $1,347.20

Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. (Round answers to 2 decimal places, e.g. 10.50.)
FIFO LIFO
Ending Inventory $____ $_____
Cost of goods sold $____ $_____