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please helpBrief Exercise 5-1 Presented below are the components in determining cost of goods sold....

Brief Exercise 5-1 Presented below are the components in determining cost of goods sold. Determine the missing amounts. 

Brief Exercise 5-1 Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Purchases $84,700 $102,700 $116,000 $54,400 $113,000 $33,200 (c) s $112,000 $153,000 $29,200$ Quest



Solutions

Expert Solution

Beginning Inventory

Purchases

Cost of goods available for sale

Ending Inventory

Cost of goods sold

(a)

84,700

102,700

187,400

71,400

116,000

(b)

54,400

58,600

113,000

33,200

79,800

(c)

41,000

112,000

153,000

29,200

123,800

(a)Cost of goods available for sale = $84,700 + 102,700 = 187,400

(a)Ending Inventory = $187,400 – 116,000 = 71,400

(b)Purchases = $113,000 – 54,400 = 58,600

(b)Cost of goods sold = $113,000 – 33,200 = 79,800

(c)Beginning Inventory = $153,000 – 112,000 = 41,000

(c)Cost of goods sold = $153,000 – 29,200 = 123,800

ekkarill92 answered 3 years ago
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