The following are the components in determining cost of goods sold,Determine the missing amounts.(a)BeginningInventoryPurchases$101,600$(b)(c) S$78,100$54,700$Cost of GoodsAvailable for Sale$120,000$110,000$151,000$EndingInventory$33,800$28,800

Here are the components of COGS that are typically included:Direct materials: The raw materials that…

Answered: The following are the components in…

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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Question 8) Below is a series of cost of goods sold sections for companies A, P. M. and W. M $700 (g) 290 7,410 (h) 8,050 Beginning inventory Purchases Purchases returns and allowances. Net purchases Freight-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold $375 2,250 195 (a) 180 P $120 1,080 (d) 990 (e) 1,250 1,370 W $(j) 32,670 (k) 28,840 1,980 (1) 52,180 12,580 39,600 (b) 2,610 (1) 540 1,150 (c) 7,600 Instructions (no color required): Fill in the lettered blanks to complete the cost of goods sold sections. (1) 1,230
Using LIFO, what is the ending balance in inventory? Date $4,800 3/1/2011 Purchase Total Goods Available for Sale O $8,400 Source 1/1/2011 Beginning Inventory 2/1/2011 Purchase $9,100 O $8,159 Units sold Units Purchased 1000 700 1,500 3,200 2500 Cost Per Unit $13 $9 $12 $20 Total Cost $13,000 $6,300 $18,000 $37,300
Supply the missing dollar amounts for each of the following independent cases:
None
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).
Presented below is information related to Marigold Company. Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales revenue Cost $379,557 1,356,000 Retail $275,000 2,161,000 94,700 15,400 36,700 5,200 2,170,000 Compute the inventory by the conventional retail inventory method. Ending inventory using conventional retail inventory method $
what is the value of a, b, c, and d?

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The following are the components in determining cost of goods sold, Determine the missing amounts. (a) Beginning Inventory Purchases $101,600 $ (b) (c) S $78,100 $54,700 $ Cost of Goods Available for Sale $120,000 $110,000 $151,000 $ Ending Inventory $33,800 $28,800