Financial Account. Answer . Need Cassie Corporation has provided the following information for its mostrecent month of operation; sales $32,200, beginning inventory $8,050,purchases $16,100 and gross profit $19,800. How much was Cassie'sending Inventory?a. $3,700b. $6,200c. $11,750d. $7,400

To calculate ending inventory, we use the formula for Cost of Goods Sold (COGS) and the inventory…

Answered: Cassie Corporation has provided the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the year. On its year-end income statement, Pope reported cost of goods sold of 1,025,000. Calculate Popes December 31 ending inventory.
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Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.
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Cost of goods sold and related items The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 20Y8: Estimated returns of current year sales 11,600 Inventory, May 1, 20Y7 380,000 Inventory, April 30, 20Y8 415,000 Purchases 3,800,000 Purchases returns and allowances 150,000 Purchases discounts 80,000 Sales 5,850,000 Freight in 16,600 a. Prepare the Cost of goods sold section of the income statement for the year ended April 30, 20Y8, using the periodic inventory system. b. Determine the gross profit to be reported on the income statement for the year ended April 30, 20Y8. c. Would gross profit be different if the perpetual inventory system was used instead of the periodic inventory system?
Cassie Corporation has provided the following information for its most recent month of operation; sales $32,200, beginning inventory $8,050, purchases $16,100 and gross profit $19,800. How much was Cassie's ending Inventory? a. $3,700 b. $6,200 c. $11,750 d. $7,400
Carr Corporation has provided the following information for its most recent month of operation: sales $8,300; beginning inventory $1,150; ending inventory $2,150 and gross profit $5,450. How much were Carr's inventory purchases during the period? Multiple Choice O $9,450. $5,450. $3,850. $6,150.

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Cassie Corporation has provided the following information for its most recent month of operation; sales $32,200, beginning inventory $8,050, purchases $16,100 and gross profit $19,800. How much was Cassie's ending Inventory? a. $3,700 b. $6,200 c. $11,750 d. $7,400