Activity 1 Directions: Compute for the Cost of Goods Sold. Write your solutions and answers on a separate sheet of paper. Beginning Inventory, Jan Add: Purchases Total goods available Less: Ending Inventory, Dec 31 Cost of Goods Sold P500,000 100,000 600,000 200,000 Activity 2 Directions: Compute the cost of goods sold using the COGS formula. Write your solutions and answer on a separate sheet of paper. Martha's Laundry business is using the calendar year for recording inventory. Beginning inventory is recorded on January 1st, and ending inventory is recorded on December 31. Martha's Laundry has a beginning inventory of P90,000, makes purchases valued at P15,000, and is left with an ending inventory of P20,000.

Activity 1 Directions: Compute for the Cost of Goods Sold. Write your solutions and answers on a separate sheet of paper. Beginning Inventory, Jan Add: Purchases Total goods available Less: Ending Inventory, Dec 31 Cost of Goods Sold P500,000 100,000 600,000 200,000 Activity 2 Directions: Compute the cost of goods sold using the COGS formula. Write your solutions and answer on a separate sheet of paper. Martha's Laundry business is using the calendar year for recording inventory. Beginning inventory is recorded on January 1st, and ending inventory is recorded on December 31. Martha's Laundry has a beginning inventory of P90,000, makes purchases valued at P15,000, and is left with an ending inventory of P20,000.

Name: Activity 1Directions: Compute for the Cost of Goods Sold. Write your
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Description: Activity 1Directions: Compute for the Cost of Goods Sold. Write your solutions and answers on aseparate sheet of paper.Beginning Inventory, Jan 1Add: PurchasesP500,000100,000Total goods availableLess: Ending Inventory, Dec 31Cost of Goods Sold600,00

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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