COMPLETE THE MISSING VALUES IN THE INCOME STATEMENT Cost of goods sold (COGS) Opening stock Add: purchases Freight charges 4,000 5,000 1.000 Cost of purchases 6,000 Less: purchases discount Less: return outward Net purchases Cost of goods available for sale Less closing stock Cost of goods sold (COGS) 500 200 (700) 3,000

COMPLETE THE MISSING VALUES IN THE INCOME STATEMENT Cost of goods sold (COGS) Opening stock Add: purchases Freight charges 4,000 5,000 1.000 Cost of purchases 6,000 Less: purchases discount Less: return outward Net purchases Cost of goods available for sale Less closing stock Cost of goods sold (COGS) 500 200 (700) 3,000

Name: COMPLETE THE MISSING VALUES IN THE INCOME STATEMENTCost of goods sold
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Description: COMPLETE THE MISSING VALUES IN THE INCOME STATEMENTCost of goods sold (COGS)Opening stock4,000Add: purchases5,000Freight charges1,000Cost of purchases6,000Less: purchases discount500Less: return outward200(700)Net purchasesCost of goods available fo

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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MPLETE THE MISSING VALUES IN THE INCOME STATEMENT Cost of goods sold (COGS) Opening stock 4,000 Add: purchases 5,000 Freight charges 1,000 Cost of purchases 6,000 Less: purchases discount 500 Less: return outward 200 (700) Net purchases Cost of goods available for sale Less closing stock Activ 3,000 Cost of goods sold (COGS)
Question 8) Below is a series of cost of goods sold sections for companies A, P. M. and W. M $700 (g) 290 7,410 (h) 8,050 Beginning inventory Purchases Purchases returns and allowances. Net purchases Freight-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold $375 2,250 195 (a) 180 P $120 1,080 (d) 990 (e) 1,250 1,370 W $(j) 32,670 (k) 28,840 1,980 (1) 52,180 12,580 39,600 (b) 2,610 (1) 540 1,150 (c) 7,600 Instructions (no color required): Fill in the lettered blanks to complete the cost of goods sold sections. (1) 1,230
Enrichment Activity 4-1. Missing Elements Net Sales Gross Sales P Less: Sales Returns & Allowances P 54,000 Sales Discounts 19,200 Net Sales Less:Cost of Sales Inventory, 1/1/21 P. 225,000 Add: Net Purchases Purchases P 890,200 Less: Purchases Returns & Allow. P 31,000 12,200 Purchase Discounts Add: Freight In 12,000 Net Purchases 859,000 Goods Available for Sales P 1,084,000 Less: Inventory, 12/31/21 Cost of Sales Gross Profit Less: Operating Expenses Distribution Expenses 138,480 Administrative Expenses Total Expense (258,780) 125,220 Net Income Required: Insert the missing figures in the income statement above. Note that Net Income is 10% of Gross Sales.
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The following information are available for ABC Corp at May 31, 20X1: Cost of goods sold, 170,000 Increase in inventory 3,000 How much is the net purchases? 167,000 170,000 173,000 Cannot determine the amount
only 2 question required
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what is the value of a, b, c, and d?
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