The Playa Company has the following information in its records. Certain data have been intentionally omitted...
The Playa Company has the following information in its records.
Certain data have been intentionally omitted ($ in
thousands).
Required:
Determine the missing numbers. (Enter all amounts as
positive numbers. Enter your answers in
thousands.)
|
Homework Answers
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The Playa Company has the following information in its records.
Certain data have been intentionally omitted...
The Playa Company has the following information in its records. Certain data have been intentionally omitted...
The Playa Company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Required: Determine the missing numbers. (Enter all amounts as positive numbers. Enter your answers in thousands.) 2022 2023 | 255 590 2021 281 645 2611 906 660 Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) Purchase discounts Purchase returns Freight in 627 255 30
Periodic inventory system; missing data
The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data have been intentionally omitted. ($ inthousands)Required:Determine the missing numbers. (Enter your answers in thousands.)2011 2012 2013Beginning inventory _____ _____ 225Cost of goods sold 627 621 _____Ending inventory _____ 225 216Cost of goods available for sale 876 _____ 800Purchases (gross) 630 _____ 585Purchase discounts 18 15 _____Purchase returns 24 30 14Freight-in 13 32 16
Two or more items are omitted in each of the following tabulations of income statement data....
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $291,720 $ $406,940 Sales returns and allowances (11,810) (12,120) Net sales 349,189 Beginning inventory 19,560 30,270 Ending inventory Purchases 258,540 296,630 Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,560) 7,200 (233,850) (7,710) 9,660 (9,040) 12,630 (294,728) 46,060 90,160 91,140
Two or more items are omitted in each of the following tabulations of income statement data....
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $292,550 $410,470 Sales returns and allowances (10,040) (12,050) Net sales 345,778 Beginning inventory 20,230 32,760 Ending inventory Purchases 260,310 297,101 Purchase returns and allowances (4,960) (8,640) (10,920) Freight-in 7,970 8,460 11,900 Cost of goods sold (236,970) (295,504) Gross profit on sales 45,540 90,810 103,170
D Question 2 2.5 pts Jackson Company reported the following information relating to its inventory for...
D Question 2 2.5 pts Jackson Company reported the following information relating to its inventory for 2829: sales revenue... freight in ...... purchase returns cost of goods available for sale purchases.. gross profit ......... freight out ........ purchase discounts .. $427,000 10.980 16 590 419.25e 392.890 46,250 11.738 Jackson Company reported an inventory turr var ratio of 4,20 for 2020. Calculate the count of purchase discounts reported by Jackson Company during 2020.
The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 32,500 38...
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...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Account...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Account Credit Inventory, 7/1/2020 33,000 Sales revenue 390,000 Sales returns 13,000 Purchases 250,000 Purchase discounts 7,000 Purchase returns 11,000 Freight-in 19,000 In addition, you determine that the June 30, 2021, inventory balance is $41,000. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold X This is a numeric cell, so please enter...
V Cost of goods sold statement. The following information has been taken from the records of Maxwell Company: Inven...
V Cost of goods sold statement. The following information has been taken from the records of Maxwell Company: Inventories: January 1 December 31 Finished goods.. $ 5,000 S 7,000 Work in process. 15.000 9,000 Materials. .... 10,000 12,000 Materials purchases ...... $100,000 Direct labor.... 200,000 Freight in ..... 3,000 Sales salaries and expenses 25,000 Other factory expenses.. 4,000 Freight out...... 2,000 Factory Insurance........... 12,500 Depreciation-machinery ...... 40,000 Purchase returns and allowances. 5,000 Sales ..........** ** 350,000 Purchase discounts ...... 800...
Required information [The following information applies to the questions displayed below.] Smith-Kline Company maintains inventory records...
Required information [The following information applies to the questions displayed below.] Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: ($ in 000s) Cost Retail Beginning inventory $ 85 $ 130 Purchases 676 1,011 Freight-in on purchases 35 Purchase returns 1 2 Net markups 3 Net markdowns 7 Net sales 921 Required: 1. Use the retail method to approximate cost of ending inventory valued under Average cost method....
Required Information [The following information applies to the questions displayed below.) SmithKline Company maintains inventory records...
Required Information [The following information applies to the questions displayed below.) SmithKline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: (5 in Bees Cost Retail Beginning inventory $ 78 $ 123 Purchases 569 1.04 Freight-in on purchases Purchase returns Net arkups Net sarkdowns Net sales 2. Use the retail method to approximate cost of ending Inventory valued under Conventional method. (Enter your answer in thousands including 2 decimal...
The Playa Company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Required: Determine the missing numbers. (Enter all amounts as positive numbers. Enter your answers in thousands.) 2022 2023 | 255 590 2021 281 645 2611 906 660 Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) Purchase discounts Purchase returns Freight in 627 255 30
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $291,720 $ $406,940 Sales returns and allowances (11,810) (12,120) Net sales 349,189 Beginning inventory 19,560 30,270 Ending inventory Purchases 258,540 296,630 Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,560) 7,200 (233,850) (7,710) 9,660 (9,040) 12,630 (294,728) 46,060 90,160 91,140
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $292,550 $410,470 Sales returns and allowances (10,040) (12,050) Net sales 345,778 Beginning inventory 20,230 32,760 Ending inventory Purchases 260,310 297,101 Purchase returns and allowances (4,960) (8,640) (10,920) Freight-in 7,970 8,460 11,900 Cost of goods sold (236,970) (295,504) Gross profit on sales 45,540 90,810 103,170
D Question 2 2.5 pts Jackson Company reported the following information relating to its inventory for 2829: sales revenue... freight in ...... purchase returns cost of goods available for sale purchases.. gross profit ......... freight out ........ purchase discounts .. $427,000 10.980 16 590 419.25e 392.890 46,250 11.738 Jackson Company reported an inventory turr var ratio of 4,20 for 2020. Calculate the count of purchase discounts reported by Jackson Company during 2020.
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...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Account Credit Inventory, 7/1/2020 33,000 Sales revenue 390,000 Sales returns 13,000 Purchases 250,000 Purchase discounts 7,000 Purchase returns 11,000 Freight-in 19,000 In addition, you determine that the June 30, 2021, inventory balance is $41,000. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold X This is a numeric cell, so please enter...
V Cost of goods sold statement. The following information has been taken from the records of Maxwell Company: Inventories: January 1 December 31 Finished goods.. $ 5,000 S 7,000 Work in process. 15.000 9,000 Materials. .... 10,000 12,000 Materials purchases ...... $100,000 Direct labor.... 200,000 Freight in ..... 3,000 Sales salaries and expenses 25,000 Other factory expenses.. 4,000 Freight out...... 2,000 Factory Insurance........... 12,500 Depreciation-machinery ...... 40,000 Purchase returns and allowances. 5,000 Sales ..........** ** 350,000 Purchase discounts ...... 800...
Required Information [The following information applies to the questions displayed below.) SmithKline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: (5 in Bees Cost Retail Beginning inventory $ 78 $ 123 Purchases 569 1.04 Freight-in on purchases Purchase returns Net arkups Net sarkdowns Net sales 2. Use the retail method to approximate cost of ending Inventory valued under Conventional method. (Enter your answer in thousands including 2 decimal...
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