Which one of the following is incorrect? O a. Goods Available for Sale Opening Inventory + Net Purchase O b. Cost of Goods Sold = Goods Available for Sale + Ending Inventory C. O d. Cost of Goods Sold = Goods Available for Sale - Ending Inventory Gross Margin= Sales - Net Purchase
Which one of the following is incorrect? O a. Goods Available for Sale Opening Inventory + Net Purchase O b. Cost of Goods Sold = Goods Available for Sale + Ending Inventory C. O d. Cost of Goods Sold = Goods Available for Sale - Ending Inventory Gross Margin= Sales - Net Purchase
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 17GI
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Kk.202.
![Which one of the following is incorrect?
O a. Goods Available for Sale Opening Inventory + Net Purchase
O b. Cost of Goods Sold = Goods Available for Sale + Ending Inventory
C.
O d.
Cost of Goods Sold = Goods Available for Sale - Ending Inventory
Gross Margin= Sales - Net Purchase](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5cfca9fd-8d5a-4925-879a-c3fb2d3e710c%2F447facc6-e69b-4221-8031-387588708898%2Fjto9eh7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which one of the following is incorrect?
O a. Goods Available for Sale Opening Inventory + Net Purchase
O b. Cost of Goods Sold = Goods Available for Sale + Ending Inventory
C.
O d.
Cost of Goods Sold = Goods Available for Sale - Ending Inventory
Gross Margin= Sales - Net Purchase
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