Jansen Company had beginning inventory of $60,000
Jansen Company had a beginning inventory of $60,000; net sales of $350,000; and cost of goods purchased of $250,000. In the previous year, the company had a gross profit margin of 40%. Calculate the estimated cost of the ending inventory using the gross profit method.
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Greg Company started the year with inventory of $75,000 and ended the year with $50,000 of...
Greg Company started the year with inventory of $75,000 and ended the year with $50,000 of inventory. If Greg had net purchases of $300,000 for the year, what was the cost of goods sold? Markus Company started the year with $50,000 of inventory and purchased $200,000 of merchandise during the year. If the cost of goods sold was $225,000, what was Markus's ending inventory? Ray Company had $950,000 of sales during the year and had selling expenses of $200,000 and...
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using the specific indication inventory method calculate the ending inventory the cost of good sold based...
using the specific indication inventory method calculate the
ending inventory the cost of good sold based on the following
please gelp in excel pleasa
1. Using the "Specific Identification" inventory method, calculate: (a) The Ending inventory, (b) The Cost of Goods Sold. Based on the following: Units Date Purchased Unit Cost 1-Jun 15 $150.00 1-Oct 25 $175.00 1-Dec 35 $200.00 Ending Inventory 3 units 6 units 9 units 2. From the following information: Units Date Purchased Unit Cost Total Cost...
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Greg Company started the year with inventory of $75,000 and ended the year with $50,000 of inventory. If Greg had net purchases of $300,000 for the year, what was the cost of goods sold? Markus Company started the year with $50,000 of inventory and purchased $200,000 of merchandise during the year. If the cost of goods sold was $225,000, what was Markus's ending inventory? Ray Company had $950,000 of sales during the year and had selling expenses of $200,000 and...
State Technology began the year with inventory of $270,000 and purchased $1,860,000 of goods during the year. Sales for the year are $3,910,000, and State Technology's gross profit percentage is 60% of sales. Compute State Technology's estimated cost of ending inventory by using the gross profit method. First, calculate the cost of goods available. Then calculate the estimated cost of ending inventory. Beginning inventory $ 270,000 1,860,000 2,130,000 Purchases Cost of goods available Estimated cost of goods sold: | Cost...
Country Technology began the year with inventory of $246,000 and purchased $1,880,000 of goods during the year. Sales for the year are $3,905,000, and Country Technology's gross profit percentage is 60% of sales. Compute Country Technology's estimated cost of ending inventory by using the gross profit method. First, calculate the cost of goods available. Then calculate the estimated cost of ending inventory. $ 246,000 1,880,000 Beginning inventory Purchases Cost of goods available Estimated cost of goods sold: 2,126,000 Less: Estimated...
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hp Help Save & Saved work Che On January 1, JKR Shop had $480,000 of inventory at cost. In the first quarter of the year, it purchased 51,620,000 of merchandise returned $23,400, and paid freight charges of $37.900 on purchased merchandise, terms FOB shipping point. The company's gross profit averages 25%, and the store had $2,030,000 of net sales (at retail) in the first quarter of the year. Use the gross profit method to estimate its cost of inventory at...
using the specific indication inventory method calculate the
ending inventory the cost of good sold based on the following
please gelp in excel pleasa
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