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

Step 1: Use the Gross Profit formula to calculate COGSStep 2: Rearrange the COGS formula to find…

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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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