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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 4, 5,6

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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