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Manal Elkhoshkhany
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Fundamentals of Financial Accounting, Phillips Libby Libby,

Customer Question

Fundamentals of Financial Accounting, Phillips Libby Libby, Chapter 7, E7-16 answer and Chapter 4, PA4-5 answer.
Submitted: 4 years ago.
Category: Homework
Expert:  elbaa replied 4 years ago.
Hi,






Can you please send those questions to me? Scan image or soft copy of your questions would be highly appreciated.






Thanks
Customer: replied 4 years ago.

I have no way of scanning or copy the questions, sorry. Chapter 4, PA4-5 is on page 184 and Chapter 7, E7-16 is on page 324 of the text book second edition. I hope this helps us out.

Thanks

Expert:  elbaa replied 4 years ago.
Sorry, i don't have the text book right now so i am opting out. Let another expert help you out on this.






Wish you very best of luck for your question:)





Customer: replied 4 years ago.
Have you had a chance to review and how is it going.
Expert:  elbaa replied 4 years ago.



I am sorry, because i don't have the text book you mentioned and i tried to find on Google but i fail to do so. I have opted out from your question. Hope some other expert will answer your question.






Thanks
Customer: replied 4 years ago.
Is there another expert work on my request and when will I know.
Expert:  elbaa replied 4 years ago.
As i have opted out so your question is available to all of the experts. I hope you will get your answer ASAP.
Expert:  Manal Elkhoshkhany replied 4 years ago.

Hello

 

which edition are you using please?

Customer: replied 4 years ago.
Thanks for the reply I will see if I can find it on bing and send you a copy if I can find it.
Customer: replied 4 years ago.
2nd
Expert:  Manal Elkhoshkhany replied 4 years ago.
Thank you. I have the book there is no need for you to scan it
Expert:  Manal Elkhoshkhany replied 4 years ago.

Hello again

 

Please click here for the solutions

 

 

P.S. If you like my services, please feel free to direct your future posts to me specifically by typing "For BusinessTutor" at the beginning of your post. Should you choose to do this, please try to allow me 48 hours before the deadline. If you need to meet me online for a timed assignment, please advise me of the date and time (EST) you want me to meet you here and I will. Please make sure you take the length of the questions into consideration when making your offer to avoid delays in providing solutions.

 

Thank you

Customer: replied 4 years ago.
Thanks PA4-5 looks good, I will have to review it in detail to make sure. As for E7-16 on page 324 what you sent was not the same as the book. It is: Analyzing Notes to adjust inventory from LIFO to FIFO amd calculating the effects on the inventory Turnover ratio and days to sell. (Heading) Please reply. Thanks again for the help with PA4-5.
Customer: replied 4 years ago.
Hope that helps you find the needed info for E7-16. I quickly reviewed PA4-5 and it looks good as far as I can tell. "Thanks";)>
Expert:  Manal Elkhoshkhany replied 4 years ago.
I have copied and included the questions from the book, E7-16 is the one I have answered. Please check the question number you have typed
Customer: replied 4 years ago.
PA4-5 is good but E7-16 is not, it has a an,LO6 E7-16 and Analyzing notes to adjust inventory from LIFO to FIFO and calculating the effects on the inventory turnover ratio and days to sell. Ford Motor Company. Hope this helps us. Thanks.
Expert:  Manal Elkhoshkhany replied 4 years ago.
THIS ANSWER IS LOCKED!

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Customer: replied 4 years ago.

Close, They have change it from your book to what my book has. I will see if I can get my scanner to work and send you a copy of what I have or I will type it out for you. Back to you soon. Thanks.

Expert:  Manal Elkhoshkhany replied 4 years ago.

you do not need to scan it. if you have the book in pdf format, you can upload it to www.mediafire.com then copy and paste the share link here and I will be able to open it

 

Regards,

Customer: replied 4 years ago.
I just have the hard copy.
Expert:  Manal Elkhoshkhany replied 4 years ago.
Ok. I tried finding it online, but I couldn't so I guess we have no choice :)
Customer: replied 4 years ago.
Can't get scanner to work I will start typing it out give me a few min. Thanks
Expert:  Manal Elkhoshkhany replied 4 years ago.

sure

 

Customer: replied 4 years ago.

In Millions 2005 2004

Finished Products 7,224 7,799

Raw material & work in process, supplies 4,056 3,968

Total inventories at FIFO 11,280 11,767

Less LIFO adjusted (1,009) (1,001)

total inventories 10,271 10,766

 

Req. 1. Given the amount of Ford LIFO reserve at the end of 2005 are cost rising or falling in this industry?

 

2. The total cost of goods sold reported by Ford for 2005 was 144,944 million. Using the COGS equation and the LIFO balance above determine the cost of inventory acquired (purchase) during 2005.

 

3. If Ford had used FIFO its cost of goods sold would have been 144,952 for 2005 (under LIFO it was 144,944 million). Calculate the inventory turnover ratio and days to sell under LIFO and FIFO, and comment on the significance of the inventory costing methods to these analyses of Ford inventory.

Customer: replied 4 years ago.
Hope this helps.
Expert:  Manal Elkhoshkhany replied 4 years ago.

The problem is not complete the way you typed it, there is the part that says "If FIFO were used by the company, inventoried would..." The part that is right under the table.

 

When is your deadline for this?

Customer: replied 4 years ago.
We. 07-21-2010
Expert:  Manal Elkhoshkhany replied 4 years ago.
Sure, but please type the missing part
Customer: replied 4 years ago.
Are we talking about the 3:13 reply. When I see it on my end it's all there and I am not seeing the part you are talking about. Maybe a little more info from your side I can help.
Expert:  Manal Elkhoshkhany replied 4 years ago.

This is what I have sent you above:

 

The problem is not complete the way you typed it, there is the part that says "If FIFO were used by the company, inventoried would..." The part that is right under the table.

 

When is your deadline for this?

Customer: replied 4 years ago.
I have look at it and its all there just as the book has it and its due Wed 7-21-2010
Customer: replied 4 years ago.
Talk with you later I have hit the hay, so I can get up in 3Hrs. Thanks
Customer: replied 4 years ago.
How is it going, have not heard back from you. Are things working out ok. Please reply. Thanks
Customer: replied 4 years ago.
Have you can up with anything yet for the E7-16. After looking at PA4-5 the numbers were off on about 8 of the listings and some of the formate was not the same. It gave me a base to work off of. Must be different editions of text book. Hope you have something for me on the E7-16 soon.
Customer: replied 4 years ago.
Are you going to get back to me, What is going on. Can you please reply. Thanks

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