PROBLEM 2 (Cost of Goods Sold). For each of the following, determine the missing amounts. Beginning Goods Available Cost of Goods Ending Inventory Purchases for Sale Sold Inventory 1. P20,000 P40,000 P25,000 2. P220,000 P250,000 P40,000 Answers: 1. Purchases, 2. Beginning inventory, . ; Ending inventory, ; Cost of goods sold, ,
PROBLEM 2 (Cost of Goods Sold). For each of the following, determine the missing amounts. Beginning Goods Available Cost of Goods Ending Inventory Purchases for Sale Sold Inventory 1. P20,000 P40,000 P25,000 2. P220,000 P250,000 P40,000 Answers: 1. Purchases, 2. Beginning inventory, . ; Ending inventory, ; Cost of goods sold, ,
Chapter10: Inventory
Section: Chapter Questions
Problem 10PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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![PROBLEM 2 (Cost of Goods Sold). For each of the following, determine the missing amounts.
Beginning
Goods Available
Cost of Goods
Ending
Inventory
Purchases
for Sale
Sold
Inventory
1. P20,000
P40,000
P25,000
2.
P220,000
P250,000
P40,000
Answers:
1. Purchases,
2. Beginning inventory,
L; Ending inventory,.
; Cost of goods sold, ,](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa463208c-e5fc-4f4e-8e8e-da8d71a4224e%2F505a69a4-b442-45ea-a3ff-0ef49f7ef859%2Fh76a0a7zt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PROBLEM 2 (Cost of Goods Sold). For each of the following, determine the missing amounts.
Beginning
Goods Available
Cost of Goods
Ending
Inventory
Purchases
for Sale
Sold
Inventory
1. P20,000
P40,000
P25,000
2.
P220,000
P250,000
P40,000
Answers:
1. Purchases,
2. Beginning inventory,
L; Ending inventory,.
; Cost of goods sold, ,
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