"Exercise 5.16 Calculating expenses and income LOZ. 37 Referring to Exhibit SA.2 fill in the following blank's Identify any losses by putting the amount in brackets Sales Cast of goods sold Merchandise inventory (beginning) Net cost of merchandise purchases... Merchandise inventory (ending). Cost of goods sold... Ce profit from sales.... Operating expenses. Prett (lom). Gross proftrato Company A 20:20 $100,000 $175.000 8,700 14-411 82.300 27.300 ? 106.000 $4,000 18.000 2029 $90,000 8.875 ? I 39.545 21,000 6.000 26.100 19,775

"Exercise 5.16 Calculating expenses and income LOZ. 37 Referring to Exhibit SA.2 fill in the following blank's Identify any losses by putting the amount in brackets Sales Cast of goods sold Merchandise inventory (beginning) Net cost of merchandise purchases... Merchandise inventory (ending). Cost of goods sold... Ce profit from sales.... Operating expenses. Prett (lom). Gross proftrato Company A 20:20 $100,000 $175.000 8,700 14-411 82.300 27.300 ? 106.000 $4,000 18.000 2029 $90,000 8.875 ? I 39.545 21,000 6.000 26.100 19,775

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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Fle LUIL Iset Omlat Ticip 10 B I U S A 田 Arial f Cost of Goods Sold3= U Y H. K L M A B C. 43 UFO 44 45 Date Item Quantity Cost Per Unit Total 46 47 Ending Inventory Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses $1.400.00 Gross Profit %=== Net Income AVERAGE COST 70 71 Average Cost Per Unit= Cost of Goods Sold=: Ending Inventory 74 77 Income Statement Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income $1,400.00 Gross Profit %= Sheet1 Sheet2 Sheet3
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1 View Policies Current Attempt in Progress The cost of goods sold computations for Flint Company and Pina Colada Company are shown below. Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold (a1) Inventory turnover eTextbook and Media norcal archives 20....zip Flint Company ^ $ 46,000 197,500 W 243,500 55,000 $188,500 Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.) Flint Company Pina Colada Company $72,500 OCA 5.docx 294,000 366,500 73,000 $293,500 Pina Colada Company W response essay.docx
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Activities/Assessments: Exercise 6-1: Supply the answers to the items marked "?" and support your answer with computation: CASE C CASE B P532, 000 CASE A Sales 4, 000 2,000 496, 000 Sales Returns ? 1, 500 525, 000 5, 000 2, 200 326, 000 Sales Discounts Net Sales Cost of Sales: Merchandise Inventory, Beg. 75, 000 70, 000 320, 000 ? 95, 600 196, 000 2, 100 1, 500 2, 800 Purchases Freight- in Purchase Returns & Allowances Purchase Discount Merchandise Inventory, End Cost of Sales Gross Profit 2, 000 6, 000 7, 500 80, 000 4, 500 2, 100 46, 000 ? 458, 500 ? 226, 000 ? 186, 000 126, 000 Administrative & Selling Expenses Net Income (loss) Gross Profit Rate 21, 500 60, 000 16, 000 ? ? ?