Homework Answers
Net purchases = Purchases - Purchase discounts - Purchase returns
= $240,000 - $6,000 - $10,000
= $224,000
Cost of goods sold = Beginning inventory + Net purchases + Freight in - Ending inventory
= $32,000 + $224,000 + $17,000 - $40,000
= $233,000
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Web Store M Gmail Vocabulary-Market... finance Ch9 WACC.. EME Clu Sssignment Saved The June 30, 2021,...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Credit...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Credit Account Inventory, 7/1/2020 Sales revenue 32,100 381,000 Sales returns 12,100 Purchases 241,000 Purchase discounts 6,100 Purchase returns 10,100 Freight-in 17,200 In addition, you determine that the June 30, 2021, inventory balance is $40,100O. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold
The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 34, 000 400,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 14,000 260,000 8,000 12,000 21,000 In addition, you determine that the June 30, 2021, inventory balance is $42,000. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold
The June 30, 2021, year-end trial balance for Askew company contained the following information:
The June 30, 2021, year-end trial balance for Askew company contained the following information: AccountDebitCreditInventory, 7/1/202033,700Sales revenue397,000Sales returns13,700Purchases257,000Purchase discounts7,700Purchase returns11,700Freight-in20,400 In addition, you determine that the June 30, 2021, inventory balance is $41,700. Required:Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.
butube G Image result for pla... Maps Web Store M Gmail Vocabulary - Market. Q finance...
butube G Image result for pla... Maps Web Store M Gmail Vocabulary - Market. Q finance Che WACC. 9 Assignment Hoyal Gorge Company uses the gross prout method to estimate ending inventory and cost of goods sold when preparing monthly Tinancial statements required by its bank riventory on hand at the end of October was $58.900 The following information for the month of November was available from company records Freight-in Sales returns Purchases returns 200 9.00 6,000 In addition, the...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory, 7/1/2020 32,100 Sales revenue 381,000 Sales returns 12,100 Purchases 241,000 Purchase discounts 6,100 Purchase returns 10,100 Freight-in 17,200 In addition, you determine that the June 30, 2021, inventory balance is $40,100. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.
The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory, 7/1/2020 32,900 Sales revenue 389,000 Sales returns 12,900 Purchases 249,000 Purchase discounts 6,900 Purchase returns 10,900 Freight-in 18,800 In addition, you determine that the June 30, 2021, inventory balance is $40,900. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.
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...
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: Credit Debit 32,800 38...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 32,800 388,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 12,800 248,000 6,800 10,800 18,600 In addition, you determine that the June 30, 2021. inventory balance is $40.800. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Answer is complete but not entirely correct. Cost of goods sold $ 239,000...
The June 30, 2021, year-end trial balance for Askew company contained the following information: Debit Credit Account Inventory, 7/1/2020 Sales revenue 32,100 381,000 Sales returns 12,100 Purchases 241,000 Purchase discounts 6,100 Purchase returns 10,100 Freight-in 17,200 In addition, you determine that the June 30, 2021, inventory balance is $40,100O. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold
The June 30, 2021, year-end trial balance for Askew company contained the following information: Credit Debit 34, 000 400,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 14,000 260,000 8,000 12,000 21,000 In addition, you determine that the June 30, 2021, inventory balance is $42,000. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Cost of goods sold
butube G Image result for pla... Maps Web Store M Gmail Vocabulary - Market. Q finance Che WACC. 9 Assignment Hoyal Gorge Company uses the gross prout method to estimate ending inventory and cost of goods sold when preparing monthly Tinancial statements required by its bank riventory on hand at the end of October was $58.900 The following information for the month of November was available from company records Freight-in Sales returns Purchases returns 200 9.00 6,000 In addition, the...
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...
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: Credit Debit 32,800 388,000 Account Inventory, 7/1/2020 Sales revenue Sales returns Purchases Purchase discounts Purchase returns Freight-in 12,800 248,000 6,800 10,800 18,600 In addition, you determine that the June 30, 2021. inventory balance is $40.800. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021. Answer is complete but not entirely correct. Cost of goods sold $ 239,000...
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