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Use the following to answer questions 1 – 6 Case 1Case 2 Case 3 Case 4 Beginning inventory $20,000$85,000 S45,600 Ending inventory ? 65,000 66,000 36,500 Purchases 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

Use the following to answer questions 1 – 6 Case 1Case 2 Case 3 Case 4 Beginning inventory $20,000$85,000 S45,600 Ending inventory ? 65,000 66,000 36,500 Purchases 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

FINANCIAL ACCOUNTING
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 4, 5,6
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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