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D Bowers Week 7 HW.xlsx

D Bowers Week 7 HW.xlsx - E6-12 Compute the Missing...

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E6-12 Compute the Missing Inventory Values The following information was disclosed in the 2012 annual report of The Arcad HINT: Remember that ending inventory for one year is the beginning inventory 2010 2011 Beginning inventory $11,560 10,485 Purchase of inventory 42,640 41,650 Inventory available for sale 54,200 52,135 Ending inventory 10,485 9,655 Cost of goods sold 43,715 42,480 Formula to Calculate missing values Beginning Inventory + Purchases = Goods Available for Sale -Cost of Goods Sold = Ending Inventory E6-13 The Mann Corporation began operations in 2011. Information relating to the co Remember that the selling cost has no impact on your calculations 2011 Units 1-Jan Purchase 200 1-Apr Sold 120 1-Jul Purchase 100 1-Sep Sold 130 2012 1-Jan Beginning Inventory 1-Jan Purchase 100 1-Apr Sold 80 1-Jul Purchase 100 1-Sep Sold 100 2011 2012 Cost of goods sold 2700 Cost of goods sold Ending inventory 700 Ending inventory E6-14 The Mann Corporation began operations in 2011. Information relating to the co Calculate the Cost of Goods Sold and Ending Inventory under FIFO Perpetual fo Calculate the Cost of Goods Sold and Ending Inventory under
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