lesson7
Dear Tomo,
Thank you for your seventh message. My comments follow.
Sincerely,
Prof. Sue Garreis
Tomo wrote:
Dear Prof. G,
Thank you for your reply and corrections of my English.
I will answer your last question.
How did you change its image?
I made the chip in the point the strongest chip. And, a darts shaft was done like summer.
Do you always make your own darts?
It is already completely hot every day.
Does Japan have a special day for fathers?
The day is a special day.I went to drink sake in the family on Father's Day.
I presented Zippo.
Do you mean a Zippo, a cigarette lighter?
And pizza was brought and it disappeared while we talked at home.
I spent one very happy day. Or did you mean: I spent one very happy hour.
You could have seen my father smile.
My father was pleased.
That was a very happy day for you, your father and your family. How nice!
What is the weather like in Japan now?
It is a rainy day.
It is raining, but soon it will clear and the weather will be steady.
As I write this I can hear the rain pouring down. It rained all day and all night so far. I hope the rain stops before the sun comes up. It rained for three days straight. That is unusual at this time of year. It is very muddy outside.
I dislike it in the summer.
Why do you dislike summer? Classes are over!
It is summer soon.
I go to the sea and want to go for mountain climbing.
Which mountain will you climb?
My school has a holiday soon.
It's summer vacation.
I am happy now.
I bet you are! Enjoy your vacation.
Homework:
1. What is the format for an American Income Statement?
2. Use your words to tell me how to calculate cost of goods sold.
You do not need to use any numbers.
2. Did Beach Toys use LIFO or FIFO to calculate the cost of goods
sold?
3. The purchase price of inventory is rising.
4. Which inventory method (LIFO or FIFO) is better for Beach Toys, Inc to use?
"Better" means "results in lower income tax."
Answer:
1. American Income Statement is Revenue, Cost of Goods Sold, Gross Margin,
Operating Expenses,Net Income (Loss).
Correct!
2. Cost of sales = old inventory +Purchases of merchandises for the term -
Closing invwstory.
Correct!
2. Beach Toys used FIFO to calculate the cost of goods sold.
Correct!
3.It rises. Correct!
4. LIFO is better for Beach Toys, Inc.
Correct!
5. Thank you for the vocabulary list.
I'm waiting for your reply.
Sincerely,
Tomo