Homework Answers
Merchandise inventory , beginning balance = $30,000
Merchandise inventory , ending balance = $34,000
Purchase of merchandise inventory = $146,000
Cost of goods sold = Merchandise inventory , beginning balance + Purchase of merchandise inventory - Merchandise inventory , ending balance
= 30,000+146,000-34,000
= $142,000
Third option is correct option.
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Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise...
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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 150,000 Selling price per pair of skis $ 750 Variable selling expense per pair of skis $ 50 Variable administrative expense per pair of skis $ 10 Total fixed selling expense $ 20,000 Total fixed administrative expense $ 20,000 Beginning merchandise inventory $ 30,000 Ending merchandise inventory $ 40,000 Merchandise purchases $ 100,000...
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The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1,247,000 430 ਚ 47 ਈ ਦੀ Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ਜੇ ਚ 17 145,000 105,000 $ 65,000 $ 105,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The
company assembled the information shown below for the quarter ended
March 31:
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1.032,000 430 ਦੀ 46 ਬੀ ਦੀ Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 150,000 750 S 50 S 10 $ 20,000 $ 20,000 $ 30,000 $ 40,000 $...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The
company assembled the information shown below for the quarter ended
March 31:
Amount
Sales
$
150,000
Selling price per pair of skis
$
750
Variable selling expense per pair of skis
$
50
Variable administrative expense per pair of skis
$
10
Total fixed selling expense
$
20,000
Total fixed administrative expense
$
20,000
Beginning merchandise inventory
$
30,000
Ending merchandise inventory
$
40,000
Merchandise purchases
$
100,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 1,075,000 430 46 19 $150,000 $ 115,000 $65,800 $ 105,000 315,e00 Required 1. Prepare a traditional income...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 1,435,000 Selling price per pair of skis $ 410 Variable selling expense per pair of skis $ 45 Variable administrative expense per pair of skis $ 17 Total fixed selling expense $ 150,000 Total fixed administrative expense $ 100,000 Beginning merchandise inventory $ 75,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 295,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount $ 1,204,000 430 Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 16 150,000 110,000 65,000 110,000 300,000 $ $ Required: 1. Prepare a traditional income statement...
Streif Inc., a local retailer, has provided the following data for the month of June: Merchandise inventory, beginning balance Merchandise inventory, ending balance Sales Purchases of merchandise inventory Selling expense Administrative expense $ 46,000 $ 52,000 $ 260,000 $ 128,000 $ 13,000 $ 40,000 The cost of goods sold for June was: Ο $134,000 Ο $122.000 Ο $181.000 $128.000 | Ο
CISE 1-15 Traditional and Contribution Format Income Statements LO1-6 Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales ......... Selling price per pair of skis ...... Variable selling expense per pair of skis............ Variable administrative expense per pair of skis...... Total fixed selling expense ..... Total fixed administrative expense.. Beginning merchandise inventory ....... Ending merchandise inventory..... Merchandise purchases........... $150,000 $750 $50 $10 $20,000 $20,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1,247,000 430 ਚ 47 ਈ ਦੀ Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ਜੇ ਚ 17 145,000 105,000 $ 65,000 $ 105,000...
The Alpine House, Inc., is a large retailer of snow skis. The
company assembled the information shown below for the quarter ended
March 31:
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: ਦੀ Amount $1.032,000 430 ਦੀ 46 ਬੀ ਦੀ Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 150,000 750 S 50 S 10 $ 20,000 $ 20,000 $ 30,000 $ 40,000 $...
The Alpine House, Inc., is a large retailer of snow skis. The
company assembled the information shown below for the quarter ended
March 31:
Amount
Sales
$
150,000
Selling price per pair of skis
$
750
Variable selling expense per pair of skis
$
50
Variable administrative expense per pair of skis
$
10
Total fixed selling expense
$
20,000
Total fixed administrative expense
$
20,000
Beginning merchandise inventory
$
30,000
Ending merchandise inventory
$
40,000
Merchandise purchases
$
100,000...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 1,075,000 430 46 19 $150,000 $ 115,000 $65,800 $ 105,000 315,e00 Required 1. Prepare a traditional income...
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount $ 1,204,000 430 Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 16 150,000 110,000 65,000 110,000 300,000 $ $ Required: 1. Prepare a traditional income statement...
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