E 8-5Inventorytransactions;missing data• LO8-1A company has the following information in its records. Certain data havebeen intentionally omitted ($ in thousands).Beginning inventoryCost of goods sold202420252026$ 7 $ ? $225Ending inventoryསྐྱི་627621?225216Cost of goods available for876?800salePurchases (gross)630?585Purchase discounts1815?Purchase returns243014Freight-in133216Required:Determine the missing numbers. Show computations where appropriate.

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Answered: E 8-5 Inventory transactions; missing…

Financial Accounting

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ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

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4:07 Chapter7Activity Q Û Name: Astry Hernandez Canales Periodic inventory by three methods; cost of merchandise sold - page 383 EX 7-13. Inventory Method a. First-in, first-out b. Last-in, first-out c. Weighted average cost Breakdown each method below: Cost of merchandise available for sale: Merchandise inventory: Cost Merchandise Inventory $59,960 Merchandise Sold $172,900 $54,100 $167,040 $56,750 $170,250 900 units at $54 $48,600 1,120 units at $55 $61,600 1,000 units at $58 $58,000 980 units at $60 $58,800 4,000 units (at average cost of $ 56.75 $ 227,000 a. First-in, first-out: Merchandise inventory: units at $ $ units at $ 1,000 units $ Merchandise sold: $227,000 $ 59,960 $167.040 b. Last-in, first-out: C. Merchandise inventory: units at $ $ units at $ 1,000 units Merchandise sold: $227,000 - $ $ $ Weighted average cost: Merchandise inventory: 1,000 units at $ Merchandise sold: $227,000 - $ A Mobile View Read Aloud $ $ B Headings
Current Attempt in Progress X Your answer is incorrect. The following information is available for Concord Company: Sales Revenue $390700 Freight-In $30400 Ending Purchase Returns and 37200 14200 Inventory Allowances Purchases 270300 Beginning Inventory 46000 Concord's cost of goods sold is O $284500. O $264900. O $295300. O $344700. Save for Later Attempts: 1 of 2 used Submit Answer
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Ces A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Required: Determine the missing numbers. Note: Enter all amounts as positive numbers. Enter your answers in thousands. Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) Purchase discounts Purchase returns Freight-in 2024 $ 651 S $ $ $ S S $ 2025 916 670 629 265 2026 $ 265 $ 232 $ 824 $ 625 26 S 23 32 $ 38 S 22 21 $ 40 S 24
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( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory system, what is the cost of ending inventory under LIFO at April 30? a. $32,800 b. $38,400 c. $63,600 d. $69,200
( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory system, what is the cost of goods sold under FIFO at April 30? a. $32,800 b. $38,400 c. $63,600 d. $69,200

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