Lesson 7
Dear Taku,
Thank you for your seventh message. My comments and corrections follow.
Sincerely,
Prof. Sue Garreis
Dear Professor M.Susan Garreis,
Thank you for your reply and corrections of my English.
Replies to the questions.
It was started about ten years ago. I have been a member for about six years.
> The history of the club is long .
I think enviably.
It has a powerful beat and a strong message.
>I am glad you liked the music, too.
We met at the restaurant at 11:30a.m. (pronounce the time as: eleven thirty A M) (a.m. means morning, that is all hours between midnight and noon. p.m. means afternoon or evening, that is all hours between noon and midnight. Six pm is usually considered the start of evening. When the sky is dark, we say it is night.)
>Thank you.
I agree! It is a small theater with very good acoustics (sound). It was the first time I was inside that theater. I hope I can go another time.
>Has you visited other theaters?
When it is possible to teach, it is glad.
I enjoy your explanations of various topics.
>>Thank you for the compliment on my teaching.
>>I have visited many other theaters in my lifetime. I enjoy seeing a live play.
>>I prefer small theaters. There is a good one in Baltimore, Maryland. It is called Center Stage. Here is its website: https://www.centerstage.org/ShowsandEvents.aspx. Theater season usually starts in September. It usually ends in May.
Do you like to read for pleasure?
> I do a little reading for pleasure.
Do you have time?
> There is the time to read this.
If you had time to read for pleasure, what would you read?
>I read light novels.
Are your textbooks electronic?
If you read for pleasure, what format do you use? Paper? Electronic? Audio? Something else?
> I read paper books.
<Homework>
1. What is the format for an American Income Statement?
>The format for an American Income Statement is revenue, cost of goods sold, gross margin, operating expenses and net income.
Correct!
2. Use your words to tell me how to calculate cost of goods sold. Please do not use any numbers.
>To calculate the cost of sales, it added to purchase initial stock, pull the year-end inventory sales to purchase.
To calculate the cost of sales, add purchases to the initial stock (of inventory) and subtract the ending inventory.
3. Did Beach Toys use LIFO or FIFO to calculate the cost of goods sold?
> Beach Toys uses FIFO to calculate the cost of goods sold.
Correct.
4. Does the purchase price of inventory rise or fall for Beach Toys, Inc?
> The purchase price of inventory rises.
Correct.
5. Which inventory method (LIFO or FIFO) is better for Beach Toys, Inc to use? "Better" means "results in lower income tax."
> For Beach Toys, it is better to use LIFO.
Correct.
6. How easy was this lesson for you?
>The accounting was: About right
>The English was: Very hard
>Finding and using the linked web pages was: Somewhat hard
>>Thank you for the vocabulary list.
Thank you for reading my e-mail.
Sincerely,
Taku.