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Exercise 12-4 (Calculation of Missing Amounts) The following information is available for three companies at the end of their fiscal years: Company A: Company B: Finished goods, January 1 Cost of goods manufactured Sales Gross profit on sales Finished goods inventory, December 31 Freight-in Purchases returns and allowances Marketing expenses Finished goods, December 31 Cost of goods sold Cost of goods available for sale P1,200,000 7,600,000 8,000,000 40% ? P 40,000 160,000 400,000 380,000 2,600,000 ?

Exercise 12-4 (Calculation of Missing Amounts) The following information is available for three companies at the end of their fiscal years: Company A: Company B: Finished goods, January 1 Cost of goods manufactured Sales Gross profit on sales Finished goods inventory, December 31 Freight-in Purchases returns and allowances Marketing expenses Finished goods, December 31 Cost of goods sold Cost of goods available for sale P1,200,000 7,600,000 8,000,000 40% ? P 40,000 160,000 400,000 380,000 2,600,000 ?

FINANCIAL ACCOUNTING
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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Exercise 12-4 (Calculation of Missing Amounts) The following information is available for three companies at the end of their fiscal years: Company A: Company B: Finished goods, January 1 Cost of goods manufactured Sales Gross profit on sales Finished goods inventory, December 31 Freight-in Purchases returns and allowances Marketing expenses Finished goods, December 31 Cost of goods sold Cost of goods available for sale P1,200,000 7,600,000 8,000,000 40% P 40,000 160,000 400,000 380,000 2,600,000 ?
Transcribed Image Text:Exercise 12-4 (Calculation of Missing Amounts) The following information is available for three companies at the end of their fiscal years: Company A: Company B: Finished goods, January 1 Cost of goods manufactured Sales Gross profit on sales Finished goods inventory, December 31 Freight-in Purchases returns and allowances Marketing expenses Finished goods, December 31 Cost of goods sold Cost of goods available for sale P1,200,000 7,600,000 8,000,000 40% P 40,000 160,000 400,000 380,000 2,600,000 ?
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