A Fraggle of Frogs

So I was feeling bad that poor Copernicus was all alone – African dwarf frogs are social animals who get lonely without some buddies – so a new fraggle of frogs has been purchased. “Fraggle of frogs”, for the uninitiated, is what one calls a group of frogs – much like you have a herd of cattle, flock of sheep, a pride of lions, or a murder of crows. At least, that’s what a group of frogs is called at my house. Because I tried to find out what the proper term for a group of frogs is, but only found no definitive answer – just randoms in various Internet forums of varying levels of repute suggesting that perhaps it’s an “army of frogs” or a “colony of frogs”. Then Devon suggested that it should have a better name, like “a fraggle.” Oddly enough, when I Googled that, I found 8 other people who have used this expression before. This blog posting will make the 9th Google hit and, with any luck, I’ll top the Internet for frog fraggles, in addition to my current standing as the Internet’s leading authority on radicalized geese and Egg McMasters.

But I digress. A fraggle of frogs was purchased last Sunday and have been kept in quarantine (read: a separate bowl with some rocks in it) to make sure we don’t have a repeat of last time, where the new frogs brought in some froggie disease that killed both them and 2/3 of the original frogs. So far1, the new frogs seem peppy and healthy and as long as they stay that way for 2 more days, they will move into the big tank to enjoy the splendors of the castle and to keep Copernicus company.

Frogs

Unlike last time, when we had names picked out for the frogs before they were even purchased2, we are waiting to see what the personalities of these frogs are like to give them names3.

Frogs

So far, only one of the four newbies has a name. The other day, I saw one of the frogs floating on the surface, reminiscent of the way one of the babies did when they died and the way Hutch did the night he died, so I was sure this guy was going to be a goner:

Loki the Frog

I tapped on the glass – no reaction. I lifted the lid4 – no reaction. But upon touching the frog with the net – he swam away! He was totally tricking me into thinking he was dead! “You little trickster!” I said and then instantly knew what his name was to be: Loki5.

As it turns out, Loki just really loves to float. He spends hours doing it, but he moves if (a) another frog bumps into him6 or (b) at feeding time, when he joins in on the feeding frenzy with the others.

Some of the other frogs are also learning the joy of floating – early tonight there was a trio of floating frogs for a bit!

There’s another frog who likes to spend most of his time under the elevated box of rocks:

Frogs

I’m toying with calling him Balboa7.

Now, since I’m supposed to be studying for my accounting exam8, I shall do some frog inventory related calculations. All who wish not to be bored to tears should stop reading now.

Frog Inventory Calculations

The following transactions occurred:

  • 5 frogs were purchased for $2.50 each
  • 2 frogs committed frogicide
  • 2 more frogs were purchased for $3.99 each9
  • The 2 new frogs died under mysterious circumstances.
  • Then 2 of the original frogs died, probably because they were infected with a froggie disease brought into the tank by the 2 newbies.
  • 4 additional frogs were purchased for $6.99 each, less a 15% discount for bulk frog purchase (i.e., $5.94 each)

Question 1: What is the value of the frog inventory?

Answer:

Depending on if we are using LIFO or FIFO cost flow assumptions10, we get different froggie inventory values.

FIFO (First In, First Out).

Under FIFO, the froggie inventory would be:

  • 4 frogs costing $5.94 each = $5.94 x 4 = $23.76    PLUS
  • 1 frog costing $3.99 = $3.99

For a total frog inventory of $27.75.

LIFO (Last In, First Out).

Under LIFO, the froggie inventory would be:

  • 4 frogs costing $5.94 each = $5.94 x 4 = $23.76    PLUS
  • 1 frog costing $2.50 = $2.50

For a total frog inventory of $26.26.

Question 2: What is the LIFO allowance?

Answer: If we were using LIFO, we would have a LIFO allowance equal to the difference between the FIFO inventory value and the LIFO inventory value – i.e., $27.75 – $26.26 = $1.49.

Bonus Question: 100 Internet points to whoever first correctly calculates the frog inventory using the weighted average system.

  1. *knocks on wood* []
  2. Righetous and Shemp. []
  3. Which is what we did with the first batch of frogs. []
  4. Well, the “lid” is just a binder that sits on top of the bowl to make sure they can’t jump out. []
  5. Loki, of course, is the Norse trickster god. []
  6. Though he mostly just looks annoyed and swims the minimum distance away to keep floating in peace. []
  7. Since we already had a “Rocky“. []
  8. Which, in my defence, I was doing all night tonight and I’m just taking a break ‘cuz a girl can only take so much accumulated depreciation in one night, amirite? []
  9. The frog inflation rate is quite high! []
  10. I’m too lazy to do weighted average tonight – it’s getting late! Maybe tomorrow. []