Homework Answers
Cost of Goods available for sale
= 180291 + 852168
= 1032459
Cost of Goods Sold = 981616 - 34%
= 647867
Ending inventory = 1032459 - 647867
= 384592
Option D
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Wake Ltd.'s records were destroyed by a flood on July 31, 20x9. The following information is...
Please show all steps so I can fully understand how to solve. Thank you Wake Ltd.'s...
Please show all steps so I can fully understand how to
solve. Thank you
Wake Ltd.'s records were destroyed by a flood on July 31. 20x9. The following information is available: Beginning Inventory $208592 Gross Profits 40% Account balance to July 31, 20x9 Purchases Sales $856053 995636 Using the information available, what is the company's estimated ending inventory? Select one: a. $467263 b. $666391 oc. $69009 d. $124842 Check
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin S...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2018 Net purchases, January 1 through September 22 Net sales, January 1 through September $151,000 381,000 605,000 22 25% Gross profit ratio Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin S...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2018 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $ 158,000 388,000 640,000 253 Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $144,000 374,000 570,000 30% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $147,000 377,000 585,000 25% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2021. a flood destroyed the entire merchandise inventory on hand in a warehouse...
On September 22, 2021. a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: $156,000 386,000 Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio 630,000 20% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2018 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $ 143,000 373,000 565,000 25% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $154,000 384,000 620,000 20% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
A company's warehouse contents were destroyed by a flood on September 12. The following information was...
A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salveged: 1 Inventory, beginning: $29,800 2 Purchases for the perlod: $18,800 3. Sales for the period: $56,800 4 Sales returns for the perlod: $880 The company's average gross profit ratio 1.22%. What Is the estimated cost of the lost inventory?
mework 0 Saved On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse own...
mework 0 Saved On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $156, 386, se 63e, eee Required: Complete the below table to estimate the cost of inventory destroyed in the...
Please show all steps so I can fully understand how to
solve. Thank you
Wake Ltd.'s records were destroyed by a flood on July 31. 20x9. The following information is available: Beginning Inventory $208592 Gross Profits 40% Account balance to July 31, 20x9 Purchases Sales $856053 995636 Using the information available, what is the company's estimated ending inventory? Select one: a. $467263 b. $666391 oc. $69009 d. $124842 Check
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2018 Net purchases, January 1 through September 22 Net sales, January 1 through September $151,000 381,000 605,000 22 25% Gross profit ratio Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2018 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $ 158,000 388,000 640,000 253 Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $144,000 374,000 570,000 30% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $147,000 377,000 585,000 25% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2021. a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: $156,000 386,000 Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio 630,000 20% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
On September 22, 2018, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2018 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $ 143,000 373,000 565,000 25% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the...
On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $154,000 384,000 620,000 20% Required: Complete the below table to estimate the cost of inventory destroyed in the flood using the gross...
A company's warehouse contents were destroyed by a flood on September 12. The following information was the only information that was salveged: 1 Inventory, beginning: $29,800 2 Purchases for the perlod: $18,800 3. Sales for the period: $56,800 4 Sales returns for the perlod: $880 The company's average gross profit ratio 1.22%. What Is the estimated cost of the lost inventory?
mework 0 Saved On September 22, 2021, a flood destroyed the entire merchandise inventory on hand in a warehouse owned by the Rocklin Sporting Goods Company. The following information is available from the records of the company's periodic inventory system: Inventory, January 1, 2021 Net purchases, January 1 through September 22 Net sales, January 1 through September 22 Gross profit ratio $156, 386, se 63e, eee Required: Complete the below table to estimate the cost of inventory destroyed in the...
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