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Question - Periodic inventory by three methods; cost of goods sold
The units of an item available for sale during the year were as follows:
Jan. 1Inventory40 units at $106Mar. 10Purchase40 units at $114Aug. 30Purchase10 units at $118Dec. 12Purchase110 units at $120There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.
Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar.
Given that you may not be able to identify ALL relevant items, how might you handle a make-buy decision? How has situation changed since the beginning of 2017?
as of december 31 2010 thomas company had total assets of 156000 total liabilities of 85600 and common stock of 52400.
a companys net sales were 679600 its cost of good sold was 233810 and its net income was 36750. its gross margin ratio
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Starship Enterprises enters into the following transactions during 2014 and 2015:
During the current year, merchandise is sold for $375,000 cash and $815,000 on account. The cost of the merchandise sold is $700,000. What is the amount of the gross profit?
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On May 31, 2010, James Logan Company had a cash balance per books of $8,205.62. The bank statement from Farmers State Bank on that date showed a balance of $7,749.57. A comparison of the statement with the cash account revealed the following facts..
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