C. $85,000
Cost of goods sold = Beginning inventory + Purchases - Ending inventory
Cost of goods sold = $20,000 + $80,000 - $15,000
Cost of goods sold = $85,000
The trial balance listed beginning merchandise inventory at $20,000, and net cost of purchases was calculated...
The records for Uptown Pet Shop showed the following: Sales Beginning merchandise inventory Purchases Cost of goods sold $75,000 $10,000 45,000 50,000 3. The ending merchandise inventory must have been $5,000 $15,000 $25,000 $40,000
Unimart Manufacturing $282,000 $564,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 550,000 880,000 182,000 176,000 Compute cost of goods sold for each of these two companies for the year. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Compute cost of goods sold for the company year in Merchandising Business. UNIMART Computation of Cost of Goods Sold Cost of goods sold: Goods available for...
$ $ Inventory Purchases Budget Budgeted cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases (on account) April 1 $ 75,000 12,750 87,750 3,800 $ 83,950 May 85,000 14,250 99,250 June 95,000 15,150 110,150 $ 99,250 $ 110,150 b. Determine the amount of ending inventory Peabody will report on the end pro forma balance sheet. Ending inventory
$ 300,000 $ 20,000 $ 200,000 $ 7,000 Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ $ $ $ $ 12,000 15,000 ? 60,000 18,000 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6....
Case B $ 20,000 Case A $ 10,000 90,000 100,000 70,000 Case C $ 15,000 30,000 85,000 95,000 100,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for sale Ending inventory, finished goods Cost of goods sold 125,000 160,000 340,000 250,000 520,000 35,000 345,000 20,000...
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Question 13 5 pts Beginning inventory plus net purchases is: Sales. Purchases. Cost of goods sold. Merchandise available for sale. Ending inventory Question 14 5 pts A company had sales of $350,000, and cost of goods sold of $200,000. Its gross pront equals $550,000. O True 0 False
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