Question
In: Accounting
Compute the Missing Inventory Values. The following information was disclosed in the 2012 annual report of...
Compute the Missing Inventory Values.
The following information was disclosed in the 2012 annual report
of The Arcadia Company.
Fill in the missing values.
| 2012 | 2011 | 2010 | |
|---|---|---|---|
| Beginning inventory | $Answer | $Answer | $12,760 |
| Purchase of inventory | 46,850 | Answer | 42,940 |
| Inventory available for sale | Answer | Answer | 55,700 |
| Ending inventory | Answer | 11,855 | Answer |
| Cost of goods sold | 13,600 | 42,480 | 43,715 |
Solutions
Expert Solution
| 2012 | 2011 | 2010 | |
| Beginning Inventory | $ 11,855 | $ 11,985 | $ 12,760 |
| Purchase of Inventory | $ 46,850 | $ 42,350 | $ 42,940 |
| Inventory Available for Sale | $ 58,705 | $ 54,335 | $ 55,700 |
| Ending Inventory | $ 45,105 | $ 11,855 | $ 11,985 |
| Cost of Goods sold | $ 13,600 | $ 42,480 | $ 43,715 |
| Cost of Goods sold = Beginning Inventory + Purchase of Inventory - Ending Inventory | |||
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