Calculate Harrington's cost of goods sold for 2013. The following information is available for HaringtonEnterprises, Inc.:January 1, 2013 December 31, 2013Accounts payable $92,000Inventory$124,000$78,000$106,000Harington Enterprises reported $218,000 of cash paid tosuppliers for purchases of inventory in its 2013 cash flowstatement.Calculate Harington's cost of goods sold for 2013.

Definition of Cost of Goods Sold (COGS):The cost of goods sold (COGS) refers to the direct costs…

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.9E

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Company's 2014 income statement reported cost of goods sold as $135,000. Additional information is as follows: December 31, 2014 Inventory $30,000 Accounts Payable $13,000 December 31, 2013 Inventory $22,500 Accounts Payable $19,500 If Company uses the DIRECT METHOD, what amount should Company report as cash paid to suppliers in its 2014 statement of cash flows?
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8. Using the following excerpts from the Michigan Company’s financial statements and the list of terms that follow, please complete the worksheets below to determine cash paid to suppliers for inventory in 2018. From Balance Sheets: Dec. 31, 2018 Dec.31, 2017 Inventory $74,000 $82,000 Accounts Payable 55,000 58,000 From Income Statement: 2018 Cost of Goods Sold $520,000 Use these terms to complete the worksheets below: Beginning balance, Inventory Cash paid for inventory Ending balance, Inventory Ending balance, Accounts Payable Goods available to sell Beginning balance, Accounts Payable Inventory purchased Total obligation to pay…
The following information is available for Aspen Trading Company: please answer the general accounting question
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Uramilaben
Betty's cost of goods sold for 2012?
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