Calculate the cost of goods sold for each company Company A Company BMerchandise Inventory, beginning balance10,600Finished Goods Inventory, beginning balance15,800Merchandise Inventory, ending balance13,900Finished Goods Inventory, ending balance12,300Net Purchases157,500Cost of Goods Manufactured213.500%24 Company BBeginning Finished Goods Inventory15,800Cost of Goods Manufactured213,500Cost of Goods Available for SaleEnding Finished Goods Inventory7 (12 300)Cost of Goods Sold

Cost of Goods Sold: Cost of Goods Sold refers to the cost price of the inventories sold. For…

Answered: Calculate the cost of goods sold for…

Business

Accounting

Calculate the cost of goods sold for each company

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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Question

Calculate the cost of goods sold for each company

Company A Company B
Merchandise Inventory, beginning balance
10,600
Finished Goods Inventory, beginning balance
15,800
Merchandise Inventory, ending balance
13,900
Finished Goods Inventory, ending balance
12,300
Net Purchases
157,500
Cost of Goods Manufactured
213.500
%24

Company B
Beginning Finished Goods Inventory
15,800
Cost of Goods Manufactured
213,500
Cost of Goods Available for Sale
Ending Finished Goods Inventory
7 (12 300)
Cost of Goods Sold

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