Cost of goods sold=Beginning inventory+Purchases-Ending inventory
138000=33000+118000-Ending inventory
Ending inventory=33000+118000-138000
=$13,000
Sheridan's beginning Inventory Is $33,000, goods purchased during the perlod cost $118,000, and the cost of...
ssume the following: Beginning finished goods inventory Ending finished goods inventory Unadjusted cost of goods sold $10,000 $ 9,900 $ 48,000 What is the cost of goods manufactured? Multiple Choice $47,800 $50,000
Barron Industries has the following information: $690,000 78,000 580,000 Sales Revenue Ending inventory Cost of Goods Sold Beginning inventory 68,000 What is Barron's number of days to sell? (Round intermediate calculations to 2 decimal places. Assume 365 days a year.) Multiple Choice 49.1 days 45.9 days 41.3 days Cortez Company updates its inventory records perpetually. The company's records showed a beginning inventory of $19,000, cost of goods sold of $27,000, and ending inventory of $21,000. How much inventory was purchased...
Zhang Company reported Cost of goods sold of $849,000, beginning Inventory of $40,000 and ending Inventory of $47,700. The average Inventory amount is: Multiple Choice o $40,000. o $47,700. o 87,700. o $43,850. o $7,700.
Bramble Corp. reported cost of goods sold as follows. Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold 2022 $ 28,810 174,650 203,460 38,450 $165,010 2021 $ 21,540 151,520 173,060 28.810 $144,250 Bramble Corp. made two errors: 1. 2. 2021 ending inventory was overstated by $1,860. 2022 ending inventory was understated by $5,490. Compute the correct cost of goods sold for each year. 2021 2022 The correct cost of goods...
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory Purchases Cost of Goods Available for Sale Ending Inventory Cost of goods sold $84,000 $114,000 $ (a) $ (b) $120,000 $53,000 $ (c) $118,000 $33,000 $ (d) $ (e) $104,000 $161,000 $27,000 $ (f)
The records of Alberta Inc. included the following information: Cost of goods sold Beginning inventory Ending inventory $1,850,000 440,000 475,000 What is the inventory turnover ratio? (Round your answer to two decimal places.) Multiple Choice o 4.20 times o 2.00 times o 3.89 times o o 4.04 times 4.04 times AAA Co. uses a periodic inventory system and has the following information in regard to its inventory: Beginning inventory Purchase on January 25 Purchase on March 15 Purchase on October...
If budgeted beginning inventory is $8,850, budgeted ending inventory is $10,060, and budgeted cost of goods sold is $10,810, budgeted purchases should be Multiple Choice Ο Ο Ο Ο Ο
List: Beginning raw materials inventory Beginning work in process inventory Cost of goods manufactured Direct labor Ending raw materials inventory Ending work in process inventory Manufacturing overhead Materials available for use Purchases of direct materials Total manufacturing costs incurred during the period Total manufacturing costs to account for Lawrence Industries is calculating its Cost of Goods Manufactured at year-end. Lawrence's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $11,000 and an ending balance...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.20 each. During the period, the company purchased inventory items as follows. Glasgow sold 290 units after purchase 3 for $10.40 each. Purchase No. of Items Cost 1 270 $ 2.70 2 185 $ 2.80 3 55 $ 3.20 Glasgow's cost of goods sold under FIFO would be: Multiple Choice $638. $834. $928. Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.20...
1. For Cutler Company, beginning inventory is $15,000, cost of goods purchased is $90,000, and ending inventory is $20,000. What is cost of goods sold? 2. Jordan Corporation sold goods to Howard Company for $5,000, terms 2/10, n/30, on September 10. On September 13, Howard returned goods costing $400. On September 18, Jordan received payment from Howard. On September 18, Jordan should debit Cash for For Cutler Company, beginning inventory is $15,000, cost of goods purchased is $90,000, and ending...