Homework Answers
Cost of goods sold = beginning inventory + (purchases - purchases discounts - purchases returns + freight-in) - ending inventory
= $33000 + ($250000 - $7000 - $11000 + $19000) - 41000
= $243000
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The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Account...
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Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the company contained the following information: Debit 33, 3e9 Credit 393,080 Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 13,309 253,000 7,309 11,309 19,600 In addition, you determine that the June 30, 2018, inventory balance is $41,300. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end...
Web Store M Gmail Vocabulary-Market... finance Ch9 WACC.. EME Clu Sssignment Saved The June 30, 2021,...
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The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 32,500 385,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 12,500 245,000 6,500 10,500 18,000 In addition, you determine that the June 30, 2021, inventory balance is $40,500. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold This is a numeric cell, so please enter numbers...
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The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 34, 000 400,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 14,000 260,000 8,000 12,000 21,000 In addition, you determine that the June 30, 2021, inventory balance is $42,000. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold
The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 32,800 388,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 12,800 248,000 6,800 10,800 18,600 In addition, you determine that the June 30, 2021. inventory balance is $40.800. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Answer is complete but not entirely correct. Cost of goods sold $ 239,000...
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Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the company contained the following information: Debit 33, 3e9 Credit 393,080 Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 13,309 253,000 7,309 11,309 19,600 In addition, you determine that the June 30, 2018, inventory balance is $41,300. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end...
Web Store M Gmail Vocabulary-Market... finance Ch9 WACC.. EME Clu Sssignment Saved The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory, 7/1/2028 Sales revenue 32,000 388, в0е Sales returns Purchases 12,e0e 240,000 6,000 10,000 Purchase discounts Purchase returns Freight-in 17,000 at In addition, you determine that the June 30, 2021, inventory balance is $40,000. nces Required: Calculate the cost of goods sold for the Askew Company for the year ending June...
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