Reyplus.com/edugen/student/mainfr.uniubeMapsWelcome, Joseph ..New TabentBrief Exercise 5-01Presented below are the components in determining cost of goods sold. Determine the missing amounts.BeginningInventoryCost of GoodsAvailable for SaleEndingInventoryCost ofgoods soldPurchases$73,000$93,000(a)(b)$113,000$43,000(c)$108,000$28,000(d)$1$.(e)$103,000$153,000$22,000$4Click if you would like to Show Work for this question: Open Show WorkBy accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by yoQuestiorEa%aratvacY Policy 2000-2021 John Wiley & Sons Inc. All Rights Reserved. A Division of John Witey& Sons Inc.to searchhp

The question is based on the concept of Cost accounting

Presented below are the components in determining cost of goods sold. Cost of Beginning Inventory Cost of Goods Available for Sale Ending Inventory goods sold Purchases $73,000 $93,000 (a) (b) $113,000 $43,000 (c) $108,000 $28,000 (d) (e) $103,000 $153,000 $22,000 (f) %24

Presented below are the components in determining cost of goods sold. Cost of Beginning Inventory Cost of Goods Available for Sale Ending Inventory goods sold Purchases $73,000 $93,000 (a) (b) $113,000 $43,000 (c) $108,000 $28,000 (d) (e) $103,000 $153,000 $22,000 (f) %24

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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Reyplus.com/edugen/student/mainfr.uni
ube
Maps
Welcome, Joseph ..
New Tab
ent
Brief Exercise 5-01
Presented below are the components in determining cost of goods sold. Determine the missing amounts.
Beginning
Inventory
Cost of Goods
Available for Sale
Ending
Inventory
Cost of
goods sold
Purchases
$73,000
$93,000
(a)
(b)
$113,000
$43,000
(c)
$108,000
$28,000
(d)
$1
$.
(e)
$103,000
$153,000
$22,000
$4
Click if you would like to Show Work for this question: Open Show Work
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Questior
Ea
%
ar
at
vacY Policy 2000-2021 John Wiley & Sons Inc. All Rights Reserved. A Division of John Witey& Sons Inc.
to search
hp

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A2 please help.....
Rapid Roller Inc. Adjusted Trial Balance December 31, 2018 Debit Credit 140,000 275,000 Cash Accounts Receivable Allowance for Doubtful Accounts $ 22,000 Notes Receivable 10,000 Supplies Inventory, 1/1/18 Equipment Accumulated Deperciation - Equipment 23,000 X1 950,000 1,250,000 300,000 Building Accumulated Deperciation - Building 2,000,000 450,000 Land 155,000 Accounts Payable 365,000 Salaries and Wages Payable Notes Payable Mortgage Payable Common Stock 24,000 125,000 1,750,000 Par $ 0.01 20,000 APIC 980,000 Retained Earnings (110,000) Dividends - Common 50,000 Sales Revenue 2,650,000 Sales Discounts 35,000 Sales Returns and Allowances 68,000 X2 Purchases 1,060,000 X3 Purchase Discounts 21,000 Freight In 19,000 195,000 X4 Selling Expenses $ Administrative Expenses $ 245,000 Rent Revenue 26,000 Income Tax Expense $ 325,000 Gain on Sale of Land 177,000 6,800,000 $ 6,800,000 The above adjusted trial balance does not include a balance for Cost of Goods Sold (COGS). The reason, the above…
20. Company sold inventory fo $300,000 terms 2/10, n/30. Cost of goods sold was $152,000, How much sales revenue will they report form the sale assuming the company records the net amount?
Income Statement Sales Revenue Cost of Goods Sold* Gross Profit Operating Expenses Income from Operations Income Tax Expense Net Income *Cost of Goods Sold Equation Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold Units 3,000 3,000 $ $ 3,000 $ FIFO Inventory Costing Method LIFO 3,000 3,000 3,000 3,000 0 0 0 0 0 0 0 Weighted Average $ $ 0 0 0 0 0
Find COGS?
Given the following: Numberpurchased Costper unit Total January 1 inventory 32 $ 4 $ 128 April 1 52 6 312 June 1 42 7 294 November 1 47 8 376 173 $ 1,110 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units). b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).
what is the value of a, b, c, and d?
6