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Use the following to answer questions 1 – 6 Case 1 Case 2 Case 3 Case 4 Beginning inventory $20,000 $85,000 S45,600| Ending inventory Purchases Cost of goods sold 385,000 725,000| ? ? 65,000 66,000 36,500 400,000 758,000 614,000 595,000 1. $ sale For case 1, determine goods available for 2. $ For 1, determine ending case inventory 3. $ For case 2, determine goods available for sale

Use the following to answer questions 1 – 6 Case 1 Case 2 Case 3 Case 4 Beginning inventory $20,000 $85,000 S45,600| Ending inventory Purchases Cost of goods sold 385,000 725,000| ? ? 65,000 66,000 36,500 400,000 758,000 614,000 595,000 1. $ sale For case 1, determine goods available for 2. $ For 1, determine ending case inventory 3. $ For case 2, determine goods available for sale

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 16MCQ: ( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory...
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Use the following to answer questions 1 – 6 Case 1 Case 2| Case 3 Case 4 Beginning inventory $20,000|$85,000 $45,600 Ending inventory Purchases ? 65,000 | 66,000 | 36,500 400,000 ? 758,000 614,000 Cost of goods sold 385,000 725,000| ? 595,000 1. $ For case 1, determine goods available for sale 2. $ For 1, determine ending case inventory 3. $ For case 2, determine goods available for sale 4. $ For case 2, determine Purchases 5. $ For case 3, determine cost of goods sold 6. $ For case 4, determine beginning inventory
Transcribed Image Text:Use the following to answer questions 1 – 6 Case 1 Case 2| Case 3 Case 4 Beginning inventory $20,000|$85,000 $45,600 Ending inventory Purchases ? 65,000 | 66,000 | 36,500 400,000 ? 758,000 614,000 Cost of goods sold 385,000 725,000| ? 595,000 1. $ For case 1, determine goods available for sale 2. $ For 1, determine ending case inventory 3. $ For case 2, determine goods available for sale 4. $ For case 2, determine Purchases 5. $ For case 3, determine cost of goods sold 6. $ For case 4, determine beginning inventory
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ISBN:
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