Coleman Company has provided the following information: beginning inventory, $113,000; cost of goods sold, $463,000; and...
Coleman Company has provided the following information: beginning inventory, $113,000; cost of goods sold, $463,000; and ending inventory, $86,500. How much were Coleman's inventory purchases?
Homework Answers
Inventory purchases = $436,500
Working
| Inventory purchased | |
| Cost of goods sold | $ 463,000.00 |
| Add: Ending Inventory | $ 86,500.00 |
| Total Inventory needed | $ 549,500.00 |
| Less: Beginning inventory available | $ 113,000.00 |
| Inventory purchased | $ 436,500.00 |
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