Answered: If the beginning inventory is $60,000,…

If the beginning inventory is $60,000, the cost of goods purchased is $380,000, and the ending inventory is $50,000, the cost of goods sold is: a. $330,000 b. $390,000 c. $370,000 d. $420,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 4CE: Kulsrud Company would like to estimate the current inventory level. Using the gross profit method...

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If the beginning inventory solve this accounting questions

If the beginning inventory is $60,000, the cost of goods
purchased is $380,000, and the ending inventory is $50,000,
the cost of goods sold is:
a. $330,000
b. $390,000
c. $370,000
d. $420,000

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Kulsrud Company would like to estimate the current inventory level. Using the gross profit method and the following information, estimate the current inventory level for Kulsrud Company. Goods available for sale 100,000 Net sales 150,000 Normal gross profit as a percent of sales 40%
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please solve this one
Need help
2. Compute the cost of goods sold using the following information Beginning Inventory = $5,000 Purchases = $120,000 Ending Inventory =$10,000 Cost of Goods Sold = ?
Subject:- General Account.
If net sales are $300,000, cost of goods available for sale is $280,000, and gross profit percentageis 35%, what is the amount of ending inventory?
Beginning inventory is $75000, ending inventory is $35000, and cost of goods purchased is $85000. What is the cost of goods sold?