Question

WileyPLUS Weygandt, Accounting Principles, 13 Help System Announcements CALAT BACK ASSIGNMENT RESOURCES Unit Lab Anstonment Brief Exercise 5-01 Presented below are the components in determining cost of goods sold. Determine the missing amounts Beginning Cost of Goods Ending Inventory Purchases Available for Sale Inventory See Cost of Goods Sold (a) $82,100 $100,000 5 $120,000 4 (D) $52,300 s $120,000 $34,000 Revind score (6) $ $118,000 $155,000 531,000 Click If you would like to Show Work for this question: Den Show Work LITO TEM Question Attempts: 0 of 5 used SUBMIT ANSI

Answer 1

	Begining Inventory	Purchases	Cost of goods availabel for sale	Ending Inventory	Cost of goods sold
A.	82100	100000	182100	62100	120000
B.	52300	67700	120000	34000	86000
C.	37000	118000	155000	31000	124000

Here, Cost of goods availabel for sale = Begining inventory + Purchases

Begining inventory = cost of goods availabel for sale - purchases

purchases = cost of goods availabel forsale

Ending invetory = cost of goods availabel for sale - cost of goods sold

Cost of goods sold = cost of goods availabel for sale - ending inventory