a. Complete the table below by filling in the blank spaces. Note: Write all the formulas used and Show your calculations or work! Year 1 Year 2 Year 3 Beginning Inventory Merchandise purchased 100 900 Goods available for sale 800 Merchandising sold Ending inventory 1000 800 300 50 b. If the units cost 10$, $5 and $5 each through out Years 1, 2 and 3, calculate the cost goods sold section of the income statement

a. Complete the table below by filling in the blank spaces. Note: Write all the formulas used and Show your calculations or work! Year 1 Year 2 Year 3 Beginning Inventory Merchandise purchased 100 900 Goods available for sale 800 Merchandising sold Ending inventory 1000 800 300 50 b. If the units cost 10$, $5 and $5 each through out Years 1, 2 and 3, calculate the cost goods sold section of the income statement

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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