Use the following information to calculate Bead It, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on account. January 1 Inventory $8,000 December 31 Inventory 15,000 Sales during the year 68,000 December 31 Accounts Payable 18,000 Purchases of Inventory on Account during the year 36,000 Cost of Goods Sold for the year = $_

Use the following information to calculate Bead It, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on account. January 1 Inventory $8,000 December 31 Inventory 15,000 Sales during the year 68,000 December 31 Accounts Payable 18,000 Purchases of Inventory on Account during the year 36,000 Cost of Goods Sold for the year = $_

Name: **QUESTION 6**Use the following information to calculate Bead It, Inc
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Description: **QUESTION 6**Use the following information to calculate Bead It, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on account.- **January 1 Inventory**: $8,000- **December 31 Inventory**: $15,000- **Sales during the year*

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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