Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for...
Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory $14,500 Merchandise inventory, November 1 28,000 Merchandise inventory, November 30 31,500 Purchases 475,000 Purchases returns and allowances 15,000 Purchases discounts 9,000 Freight in 7,000 $
Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for Novemt Increase in estimated returns inventory Merchandise inventory, November 1 Merchandise inventory, November 30 Purchases Purchases returns and allowances Purchases discounts Freight in $14,500 28,000 31,500 475,000 15,000 9,000 7,000
Cost of goods sold Based on the following data, determine the cost of goods sold for November: $14,500 Estimated returns of November sales Inventory, November 1 Inventory, November 30 Purchases Purchases returns and allowances Purchases discounts Freight in 28,000 31,500 475,000 15,000 9,000 7,000
ook Calculator ost of goods sold ased on the following data: Estimated returns of November sales Inventory, November 1 Inventory, November 30 $14,100 29,130 34,260 Purchases Purchases returns and allowances Purchases discounts Freight in 514,750 14,520 8,280 6,460 Determine the cost of goods sold for November. Cost of goods sold: Chady Workomore Check My Work uses remaining
Cost of Merchandise Sold Cost of merchandise sold: Merchandise inventory, May 31, 2018 $105,000 Cost of merchandise purchased: Purchases $1,110,000 Purchases returns and allowances 55,000 Purchases discounts 30,000 Freight in (22,000) Total cost of merchandise purchased 1,173,000 Inventory available for sale $1,278,000 Merchandise inventory, June 1, 2017 91,300 Cost of merchandise sold before estimated returns $1,186,700 Increase in estimated returns inventory 43,300 Cost of merchandise sold $1,230,000 The schedule of the cost of merchandise sold for the current year ended...
eBook Show Me How Calculator Cost of Goods Sold Section, Multiple-Step Income Statement Based on the information that follows, prepare the cost of goods sold section of a multiple-step income statement. Merchandise Inventory, January 1, 20-- $37,000 Estimated Returns Inventory, January 1, 20-- 2,000 Purchases 102,000 Purchases Returns and Allowances 4,200 Purchases Discounts 2,040 Freight-In 800 Merchandise Inventory, December 31, 20-- Estimated Returns Inventory, December 31, 20- 30,500 2,500 Income Statement For Year Ended December 31, 20-- Cost of goods...
Based upon the following data for a business with a periodic inventory system, determine the cost of goods sold for August. $75,090 Inventory, August 1 Inventory, August 31 98,070 Purchases 366,450 Purchases returns & allowances 15,210 Purchases discounts 10,770 Freight in 3,360 Schedule of the Cost of Goods Sold For the Month Ended August 31 Cost of merchandise purchased: Net purchases Total cost of merchandise purchased
Using the following information, prepare the Cost of Goods Sold section of an income statement. Purchases Discounts $8,500 Merchandise Inventory, December 31 189,000 Purchases 476,000 Merchandise Inventory, January 1 185,000 Purchases Returns and Allowances 9,000 Freight In 12,000 Income Statement (Partial) $ $ $ Net Purchases $ $ $
The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 2019: Increase in estimated returns inventory $ 9,400 Merchandise inventory, May 1, 2018 377,900 Merchandise inventory, April 30, 2019 472,400 Purchases 3,070,400 Purchases returns and allowances 94,500 Purchases discounts 56,700 Sales 4,723,700 Freight in 14,200 a. Prepare the cost of merchandise sold section of the income statement for the year ended April 30, 2019, using the periodic inventory system. Harkins Company Income...
help me please
Do you want to install the update eBook Show Me How Calculator Calculation of Cost of Goods Sold: Periodic Inventory System With Sales Returns And Allowances Instructions Amount Descriptions Income Statement Н Instructions The following amounts are known: $31.000 25,000 62,000 Beginning merchandise inventory Ending merchandise inventory Purchases Purchases returns and allowances Purchases discounts Freight-in 2,600 3,500 290 Assume the business makes estimates for sales returns and allowances at year end. The balances for estimated returns inventory...