44.The following data were available for ABC Corp at Nov 7, 20X2: Net purchases ( Jan 1-Nov 7)   P75,000 Inventory, Jan1   P4,000 Gross Sales, P115,000 Sales discount, P7,000 Gross profit is 50% of cost A fire destroyed the warehouse on Nov 7, 20X2 and destroyed 75% of the ending inventory. How much was the ending inventory at Nov 7, 20X2?     2,333 7,000 21,500

Q: Butterfly Company began October with inventory of $192.000. The business made net purchases of…

A: Gross profit is the difference between sales revenue and cost of goods sold. The cost of goods sold…

Q: During the year, TRC Corporation has the following inventory transactions. Number of Unit Date…

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Q: Trent Co. uses the retail inventory method. The following information is available for the current…

A: Introduction: Ending inventory is the worth of products still offered for purchase and held by a…

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Q: The following information relates to Splish Brothers Ltd's inventory transactions during the month…

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Q: 4.The following data were available for ABC Stores at Nov. 6, 20X1: Purchases (Jan 1- Nov 5)…

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A: Formula for Inventory turnover ratio Inventory Turnover ratio=Cost of goods soldAverage Inventory…

Q: Mac's Hardware's gross profit on sales is 40%. At the beginning of January, the cost of inventory…

A:

Q: ted below is information related to Skysong Inc. Cost Retail Inventory, 12/31/17 $251,300 $387,300…

A: The traditional retail inventory method assists retailers in estimating the value of their ending…

Q: How much is the loss on fire at Nov 6, 20X1?   a. 3,900 b. 9,150 c. 13,000 d. 30,500

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A: Given:   Cost of goods sold = $6,571,459 Ending inventory = $572,344

Q: On June 19, 20X0, a fire destroyed the entire uninsured merchandise inventory of the ABC…

A: Cost of goods sold means the cost incurred on the goods which has been sold including all direct…

Q: A fire on 28th Feb destroyed some of a company’s inventory and its  inventory records. The following…

A: Inventory is the value of goods manufactured, purchased or traded by the company.

Q: Use the retail method to estimate the value of the inventory (in $) as of June 30 given the…

A: To estimate the value of the inventory using the retail method, we need to first calculate the…

Q: Marigold Corporation's April 30 inventory was destroyed by fire. January 1 inventory was $164,900,…

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A: Ending Inventory = Beginning Inventory + Purchases - Cost of goods sold   Cost of goods sold =…

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Q: mation is available:   Sales, January 1 through July 8 $ 700,000 Inventory, January 1 130,000…

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Q: Blue Spruce Corporation's March 31 inventory was destroyed by fire. January 1 inventory was…

A: We assume that all the inventory of 31 March was destryed by the fire.

Q: Qtso Company reported during the current year the following: P 500,000 2,500,000 3,200,000 A…

A: The Cost of Goods sold is the Cost of producing the inventory by the firm. The Ending inventory is…

Q: ksk.21

A: Detailed explanation:FIFO method assigns cost from the most recent purchases as cost of…

Q: The September 30 inventory at Liverpool Piano Repair was $43,750 at cost and $62,500 at retail.…

A: “Hello, since you have posted multiple questions. We will solve first question for you. Please…

Q: The following information is available for October for Sheridan Company: Beginning inventory Net…

A: Value of ending inventory is the difference between cost of goods available for sale and cost of…

Q: The following information is given about Arab Inc., sales were $500,000 and sales discounts were…

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Q: Can you explain how do we get COGS and Inventory? Exe Ltd sold supplies to Whi Ltd with a total…

A: Lets understand the basics. When inter company sales of good happened between two entity of group…

Q: Wildhorse Company reported the following information for November and December 2022.     November…

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Q: A fire destroyed all ABC's merchandise inventory on October 1. On January 1 the balance in inventory…

A: Gross profit margin = Sales * 32/132Estimated cost of goods sold = Sales * 100/132Estimated…

Q: he following information is available for October for Pharoah Company. (Round answers to 0 decimal…

A: solution: given Beginning inventory $320000 Net purchases 1040000 Net sales…

Q: The following data were available for ABC Corp at Dec 31, 20X2: Net purchases    P345,000 Inventory,…

A: Cost of goods sold: These are the total expenses that are incurred by an organization in order to…

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Q: The 200X records of Thompson Company showed beginning inventory of $6,000, cost of goods sold of…

A: Accounting:   Accounting is the art of recording, classifying and summarizing in a significant…