What was the cost of goods sold total

Assignment Help Financial Accounting
Reference no: EM131287325

A company is closing out the accounting period. The inventory balance at the beginning of the period was $222,750, and at the end of the period it was $215,600. Purchases of goods for resale during the period equaled $682,500. What was the cost of goods sold total?

$905,250

$682,500

$689,650

$675,350

Reference no: EM131287325

Questions Cloud

Prepared based on a monthly capacity : prepared based on a monthly capacity of 50,000 units: Category Cost per Unit Variable manufacturing costs $28 Fixed manufacturing costs $6 Variable selling costs $7 Fixed selling costs $9 Capacity cannot be added in the short run and the firm current..
Compare theories of change management : Compare theories of change management and select an appropriate theory for an organization change.Analyze diagnostic models relevant to various aspects of the change management process.
How much is the savings bond exclusion : Starting in 1998, Jackson and Sasha have been purchasing Series EE bonds in their name to use for the higher education of their son, Pedro, who currently is age 18. In 2016, they cash in $18,000 of the bonds to use for tuition, fees, and room and boa..
Explain why each state transition may occur : During its execution, a transaction passes through several states, until it finally commits or aborts. List all possible sequences of states through which a transaction may pass. Explain why each state transition may occur.
What was the cost of goods sold total : A company is closing out the accounting period. The inventory balance at the beginning of the period was $222,750, and at the end of the period it was $215,600. Purchases of goods for resale during the period equaled $682,500. What was the cost of go..
How might the relative importance of each of imc element : Evaluate how Tiffany's advertising, personal selling, public relations, and electronic media might influence your purchase decision.
What inventory costing method is the company using : A merchandising company has beginning inventory of 50 units with a total cost of $500. The following transactions during the month of January: 1/5 bought 10 units at $11.00 each; 1/8 bought 15 units at $11.25 each; 1/15 sold 8 units for $16 each; 1/2..
How would you address the key factors : . How would you address the key factors which the organization missed and ultimately lead to the change being reversed?
Uses the percentage-of-receivables method : A company uses the percentage-of-receivables method for establishing the bad-debt reserve. An aging report shows $780,000 relating to the past month, $232,600 relating to the prior month, and $89,200 relating to more than two months ago. The balance ..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the amounts of the adjusting entries

Calculate the amounts of the adjusting entries and enter them in the adjustments column.

  Questioncase tech sonic incorporatedtech sonic inc is a

questioncase tech sonic incorporatedtech sonic inc. is a large global computer chip manufacturer with headquarters in

  What is the most you are willing to pay as lump sum today

The Good Life Insurance Co. wants to sell you an annuity which will pay you $730 at the end of each quarter for 25 years. You want to earn a minimum rate of return of 5.8 percent annually with quarterly compounding. What is the most you are willing t..

  Find values to be disclosed in final financial statements

Calculating Missing Values to be disclosed in Final Financial Statements - Consolidated financial statements are being prepared on December 31, 2007. What balance should be reported for each of the following accounts?

  What is the impact of the currency changes on fourth quarter

Identify four quality of earnings issues reported in the case and the analysts' concern about each. In percentage terms, what is the impact of the currency changes on fourth quarter earnings?

  Analyzing the statement based on trend analysismarcus

analyzing the statement based on trend analysis.marcus companyyou are the senior financial analyst for the marcus

  Calculate the total net cash outflow

Principal amount of bond is $24,500,000 stated interest rate (annual) is 5%; market interest rate is 6%, corporate tax rate 32%. Calculate the annuity. Calculate the total (annual) net cash outflow for the company based on the above information.

  Regard to the valuation of noncurrent assets

Which of the following statements is incorrect when comparing GAAP to IFRS in regard to the valuation of noncurrent assets?

  What is the par value of the companys common stock

What is the par value of the company's common stock? Did the company issue any new shares during the fiscal year ended December 31, 2006?

  Accounting for receivablesacme company had a january 1

accounting for receivablesacme company had a january 1 balance in its allowance for doubtful accounts of 7000 for the

  Finance department be quizzing the proposal manager

Why might a finance department be quizzing the proposal manager (PM) about the ARR? And more importantly, why is it important that the PM give a reasonable ARR?

  Comparative balance sheet of rodenbeck company

Using the data from the comparative balance sheet of Rodenbeck Company, illustrate vertical analysis.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd