Question

CIK WIL VIR Read the requirements Requirement 1. Define the three business types, service, merchandising and manufacturing Business type Definition Service Merchandising Manufacturing Requirement 2. Based on the data given for the two companies determine the business type of each one Company Als a company and Company B is a M company Requirement 3. Calculate the cost of goods sold for each company Begin by calculating the cost of goods sold for Company A Company A X i Data Table Company A Company B 10,200 16,200 Cost of Goods Sold Now calculate the cost of goods sold for Company B. Beginning balances Merchandise Inventory Finished Goods Inventory Ending balances Merchandise Inventory Finished Goods Inventory Net Purchases Cost of Goods Manufactured 13.900 Company B 11.900 152,500 209,000 Print Done Cost of Goods Sold Choose from any lost or enter any number the input fields and then continue to the next question AL I EN

Answer 1

solution - 1 Business Type service Definition Do not sell Products, They sell time, skills and knowledge I Resell products, previously, bought from supplier Merchandising Manufacturing uses labor, Equipment, supplies and facilities to convert yaw materials into finished Products

solution - 2 Company A is a merchandising Company Company B is a manufacturing Company Amount ($) Solution - 3 Cost of goods sold retuloa COMPANY A enit that particulars & Joe opening merchandise Inventory 10,200 Add: Net Purchases of h ell 152,soo less: Ending merchandise Inventory (13,500). the Cost of goole sold 149,2oon TO u sve

COMPANY B Particular Amount C$ Add! Less! Cost of goods Manufactused 209,000 Beginning Finished goods Inventory 16, 200 Ending Finished goods Inventory (121900) Cost of goods sold 213,300