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In: Accounting
Presented below are the components in determining cost of goods sold. Determine the missing amounts.
Presented below are the components in determining cost of goods sold. Determine the missing amounts.
Solutions
Expert Solution
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| Answer a | Amount $ |
| Beginning inventory | 80,000.00 |
| Add: Purchases | 100,000.00 |
| Cost of goods available for sale | 180,000.00 |
| Answer b | Amount $ |
| Cost of goods available for sale | 180,000.00 |
| Less: Cost of goods sold | (120,000.00) |
| Ending inventory | 60,000.00 |
| Answer c | Amount $ |
| Cost of goods available for sale | 115,000.00 |
| Less: Beginning inventory | (50,000.00) |
| Purchases | 65,000.00 |
| Answer d | Amount $ |
| Cost of goods available for sale | 115,000.00 |
| Less: Ending inventory | (35,000.00) |
| Cost of goods sold | 80,000.00 |
| Answer e | Amount $ |
| Cost of goods available for sale | 160,000.00 |
| Less: Purchases | (110,000.00) |
| Beginning inventory | 50,000.00 |
| Answer f | Amount $ |
| Cost of goods available for sale | 160,000.00 |
| Less: Ending inventory | (29,000.00) |
| Cost of goods sold | 131,000.00 |
ekkarill92 answered 2 years agoRelated Solutions
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?
(b)
?
=
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?
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For each of the
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Cost of
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Beginning
Finished Goods Inventory
Ending
Finished Goods Inventory
Cost of
Goods Sold
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$560
$270
B
4,190
1,400
4,560
C
890
680
4,465
D
11,000
2,360
9,650
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1/20 -
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