Bill Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $18,000 in inventory. During the year, Rose Sporting Goods purchased inventory that cost $66,000. At the end of the year, inventory on hand amounted to $28,500. Required Calculate the following: a. Cost of goods available for sale during the year. b. Cost of goods sold for the year. c. Amount of inventory would Rose Sporting Goods report on the year-end balance sheet. a. Total available for sale b. Cost of goods sold c. Ending merchandise inventory

Bill Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $18,000 in inventory. During the year, Rose Sporting Goods purchased inventory that cost $66,000. At the end of the year, inventory on hand amounted to $28,500. Required Calculate the following: a. Cost of goods available for sale during the year. b. Cost of goods sold for the year. c. Amount of inventory would Rose Sporting Goods report on the year-end balance sheet. a. Total available for sale b. Cost of goods sold c. Ending merchandise inventory

Name: Bill Rose owns Rose Sporting Goods. At the beginning of the year, Ros
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Description: Bill Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $18,000 in inventory. During the year,Rose Sporting Goods purchased inventory that cost $66,000. At the end of the year, inventory on hand amounted to $28,500.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 33BE

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