Supply the missing dollar amounts for each of the following independent cases: Sales Revenue Beginning Inventory Cases Cost of Goods Available for Sale Purchases Cost of Cost of Goods Sold Ending Inventory Gross Profit 1,250 S 1,350 650 860 B 1.450 750 1.350 660 650 750 850 950 D 1,360 1,150 1,200 800 E 1,550 600 1.450 1,060 %24

Supply the missing dollar amounts for each of the following independent cases: Sales Revenue Beginning Inventory Cases Cost of Goods Available for Sale Purchases Cost of Cost of Goods Sold Ending Inventory Gross Profit 1,250 S 1,350 650 860 B 1.450 750 1.350 660 650 750 850 950 D 1,360 1,150 1,200 800 E 1,550 600 1.450 1,060 %24

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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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Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. Sales revenue Sales returns and allowances Net sales Beginning inventory Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 2024 $289,490 $ 11,810 21,890 5,030 8,240 232,300 45,380 2025 11,950 347,134 32,240 260,730 7,830 9,240 91,360 2026 $408,710 296,971 9,930 10,910 292,643 101,420
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Calculate the missing numbers in the following situations. (Input all amounts as positive values.) [15 a b C Invoice cost of merchandise purchases $ 44,900 $ 69 21,900 $ 17,150 Purchase discounts 2,900 370 Purchase returns and allowances 1,950 840 640 Cost of transportation-in 2,200 2,900 Merchandise inventory (beginning of period) 5,400 4,400 Net cost of merchandise purchases 45.600 20,200 Merchandise inventory (end of period) 2,650 4,200 Cost of goods sold $ 59 21,700 SA $ 17,965
Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for Meta-B1 are as follows: July 1 Inventory 100 units at $400 12 Sale 70 units 23 Purchase 120 units at $450 26 Sale 110 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the July 23 purchase.$fill in the blank 1per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on July 26.$fill in the blank 2 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on July 31.$fill in the blank 3
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