Don't give answer in image format Armstrong Creation uses a periodic inventory system. During the current year, the company purchased merchandise at a cost of $345,000. You are to compute the cost of goods sold under each of thefollowing alternative assumptions:A No beginning inventory, ending inventory $18,000.B Begrning inventory $15,000, no ending inventoryC Begrning inventory $12,000, ending inventory, $9,000D Beginning inventory $11,000, ending inventory $17,000.Show or describe how you arrived at you amountsCost of Goods Sold$$

Calculation of cost of goods under each following assumption are as follows

Armstrong Creation uses a periodic inventory system. During the current year, the company purchased merchandise at a cost of $345,000. You are to compute the cost of goods sold under each of the following alternative assumptions: A No beginning s tory $18,000 ending inventory B Beginning aventory f C Beginning inventory $12,000, ending inventory, 19,000 D Beginning inventory $11,000, ending inventory $17,000 Show or describe how you arrived at you amounts Cost of Goods Sold 1 1

Armstrong Creation uses a periodic inventory system. During the current year, the company purchased merchandise at a cost of $345,000. You are to compute the cost of goods sold under each of the following alternative assumptions: A No beginning s tory $18,000 ending inventory B Beginning aventory f C Beginning inventory $12,000, ending inventory, 19,000 D Beginning inventory $11,000, ending inventory $17,000 Show or describe how you arrived at you amounts Cost of Goods Sold 1 1

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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