Below is a series of cost of goods sold sections for companies B, M, O, and...

Below is a series of cost of goods sold sections for companies B, M, O, and S.

Fill in the lettered blanks to complete the cost of goods sold sections.

	B		M		O		S
Beginning inventory	$ 265		$ 127		$ 742		$enter a dollar amount	(j)
Purchases	1,590		1,145		enter a dollar amount	(g)	46,205
Purchase returns and allowances	85		enter a dollar amount	(d)	307		enter a dollar amount	(k)
Net purchases	enter a dollar amount	(a)	1,102		7,855		44,827
Freight-in	138		enter a dollar amount	(e)	enter a dollar amount	(h)	2,374
Cost of goods purchased	enter a dollar amount	(b)	1,304		8,533		enter a dollar amount	(l)
Cost of goods available for sale	1,908		1,431		enter a dollar amount	(i)	52,502
Ending inventory	329		enter a dollar amount	(f)	1,219		6,604
Cost of goods sold	enter a dollar amount	(c)	1,304		8,056

Expert Solution

Fill in the lettered blanks to complete the cost of goods sold sections.

	B		M		O		S
Beginning inventory	$ 265		$ 127		$ 742		5301	(j)
Purchases	1,590		1,145		7855+307 = 8162	(g)	46,205
Purchase returns and allowances	85		1145-1102 = 43	(d)	307		46205-44827 = 1378	(k)
Net purchases	1590-85 = 1505	(a)	1,102		7,855		44,827
Freight-in	138		1304-1102 = 202	(e)	8533-7855 = 678	(h)	2,374
Cost of goods purchased	1505+138 = 1643	(b)	1,304		8,533		44824+2374 = 47201	(l)
Cost of goods available for sale	1,908		1,431		1219+8056 = 9275	(i)	52,502
Ending inventory	329		1431-1304 = 127	(f)	1,219		6,604
Cost of goods sold	1908-329 = 1579		1304		8056		52502-6604 = 45898

ekkarill92 answered 1 year ago

Cost of goods sold:

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Below is a series of cost of goods sold sections for companies B, M, O, and...

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