P 780,000 15,000 19,000 420,000 12,000 8,000 2,000 50,000 80,000 120,000 Sales Sales Returns &Allowances Sales Discount Purchases Freight in Purchase Renurns & Allowances Purchase Discount Beginning Inventory Ending Inventory Operating expenses Other Income Otber Expenses 16,000 3,000 How much is the cost of goods available for sale? P 4E0.000 Ob P472,000 Oc Pa48,000 P 470,000

Q: None

A: Sales returns have an effect on value and inventory levels. Unexpected returns might cause…

Q: Sales Revenue Cost of Goods Manufactured Beginning Finished Goods Inventory Ending Finished Goods…

A: To calculate the gross profit, we first need to calculate the cost of goods sold (COGS), then…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A: The retail method technique is the one, which is used to estimate the ending inventory value using…

Q: Beginning inventory 32 000 Cost of goods sold 404 000 Ending inventory 45 000 Net icome 28 000 Net…

A: Ratios are used by the firms to know the exact situation of the firm in comparison to the industry…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A:

Q: 11. Fender Corp. uses the FIFO retail inventory method. Certain information is reported below: Cost…

A: The ending inventory is the cost of inventory valuation at the year end.

Q: Presented below is information related to Cullumber Inc. Inventory, 12/31/25 Purchases Purchase…

A: In Conventional retail inventory method, we calculate the ending inventory. Ending inventory is…

Q: June 1 Purchased 1 unit for $70 June S Purchased 1 more unit for $80- FIFO LIFO June 10 Purchased 1…

A: The methodology utilized to value inventory relies on how the corporation maintains its stock over…

Q: Fry Corporation's computation of cost of goods sold is: Beginning inventory 60,000

A: Answer: Option (a) 54.5 days is the correct answer.

Q: Need help with this question

A: To begin, it's important to understand how sales, cost of goods sold (COGS), sales returns and…

Q: Presented below is information related to Bridgeport Inc Inventory, 12/31/25 Purchases Purchase…

A: Retail inventory method : It is a method for calculating ending inventory based on the ratio of…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A: Cost ratio is the ratio which is defined as the cost of goods available, it is divided through the…

Q: v2.cengagenow.com C 64% A CO Sales Transactions Journalize the following merchandise transactions:…

A: DateAccountDebitCredit(A)Accounts receivable$19,602  Sales $19,602 To record the sales revenue…

Q: What is the cost of sales?    Sales - £120,000, Opening Inventory £25,000, Purchases, £85,000,…

A: Cost of sales: The actual cost of direct expenses that were spent for the operations of business is…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A: Cost to retail ratio: Under retail inventory method, cost to retail ratio is used to value the…

Q: Multiple Step Income Statement Calculations Company A Company B Company C Company D $480 $2,000 200…

A: Company A 1. Purchases = Ending inventory + purchase return - beginning inventory + cost of goods…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A: Cost to retail ratio: Under the retail inventory method, closing inventory is valued using the cost…

Q: Cost of Goods Sold       Beginning Inventory       Add:                 Purchases…

A: Gross Profit is computed by subtracting the cost of sales from total sales revenue. Cost of goods…

Q: Provide calculations for last-in, first-out (LIFO).

A: Last In First Out (LIFO) is a method of recording the flow of inventory and recording the freshly…

Q: GB SalesRevenue                      16800    Purchases                            12800 Gross…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Fill in the blanks in the following separate income statements a through e. b. Sales $ 62,000 $…

A: Gross profit is calculated by deducting the cost of goods sold from the sales amount and net profit…

Q: BES.1 (LO 1), AP The following are the components in determining cost of goods sold. Determine the…

A: Cost of Goods Available for Sale=Beginning Inventory+PurchasesCost of Goods Sold=Cost of Goods…

Q: Presented below is information related to Indigo Inc. Inventory, 12/31/25 Purchases Purchase returns…

A: Retail inventory method is used  for calculating ending inventory based on the ratio of amount of…

Q: Margaret Company reported the following information for the current year: Net sales Purchases…

A: Formula : Inventory turnover ratio = Cost of goods sold / Average inventory

Q: The following information is available for Whispering Winds Produce Market: Sales $240000 Freight-in…

A: Cost of goods sold is the amount of cost incurred by the entity on the making of the goods sold in…

Q: Cost Retail Inventory, 12/31/25 $254,700 $397,600 Purchases 1,002,796 1,454,100 Purchase returns…

A: The conventional retail inventory method is used by companies to determine the value of ending…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.