chpt 8 supp sol

chpt 8 supp sol - Chapter 8 Supplemental Solutions Exercise...

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Chapter 8 Supplemental Solutions Exercise 8-3 Requirement 1 Beginning inventory $ 32,000 Plus net purchases: Purchases $240,000 Less: Purchase discounts (6,000) Less: Purchases returns (10,000) Plus: Freight-in 17,000 241,000 Cost of goods available for sale 273,000 Less: Ending inventory (40,000 ) Cost of goods sold $233,000 Requirement 2 Cost of goods sold (above) .......................................... 233,000 Inventory (ending) ....................................................... 40,000 Purchase discounts. .................................................... 6,000 Purchase returns. ........................................................ 10,000 ................................................... Inventory (beginning) ......................................................................... 32,000 .................................................................... Purchases ....................................................................... 240,000 .................................................................... Freight-in ......................................................................... 17,000
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Exercise 8-4 P ERPETUAL S YSTEM P ERIODIC S YSTEM ($ in 000s) Purchases Inventory 155 Purchases 155 Accounts payable 155 Accounts payable 155 Freight Inventory 10 Freight-in 10 Cash
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This note was uploaded on 07/08/2009 for the course ACCT 351 taught by Professor Staff during the Spring '08 term at George Mason.

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chpt 8 supp sol - Chapter 8 Supplemental Solutions Exercise...

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