Accounting 211-February 11th, 1999 - Sales 650,000- Cost...

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Accounting 211 Thursday, February 11th, 1999 Announcements: Do not do Exercise #8 in chapter 11 homework. Lecture notes: Gross Profit Method:
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Beginning Inventory = $275,000 Net Purchases = $325,000 Trans In = $20,000 Net Sales = $650,000 Gross Profit = 20% of Sales
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Unformatted text preview: Sales 650,000- Cost of Goods Sold- 520,000 Gross Profit 130,000 Beginning Inventory 275,000 + Purchases 325,000 + Trans In 20,000 Cost of Goods Avail for Sale 620,000- Ending Inventory 100,000 Cost of Goods Sold 520,000...
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This note was uploaded on 02/20/2008 for the course ACCTG 211 taught by Professor Johnston during the Spring '99 term at Pennsylvania State University, University Park.

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Accounting 211-February 11th, 1999 - Sales 650,000- Cost...

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