Week 1 Exercise - Samantha Hyrns

Week 1 Exercise - Samantha Hyrns - 250 Cost of goods...

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Week 1 Exercise - Samantha Hyrns E5-15 Below is a series of cost of goods sold sections for companies B, F, L, and R. B F L R Beginning Inventory $150 $70 $1,000 (J) Purchases 1,600 1,080 (G) 43,590 Purchase returns and allowances 40 (D) 290 (K) Net Purchases (A) 1,030 6,210 41,090 Freight-in 110 (E) (H) 2,240 Cost of goods purchased (B) 1,280 7,940 (L) Cost of goods available for sale 1,820 1,350 (I) 49,530 Ending inventory 310 (F) 1,450 6,230 Cost of goods sold (C) 1,230 7,490 43,300 (a) net purchases (b) cost of goods purchased and (C) cost of goods sold Beginning inventory $150 Purchases $1,600 Purchase returns and allowances $40 40 Net Purchases 1,560 Freight-in 110 Cost of goods purchased 1,670 Cost of goods available for sale 1,820 Ending inventory 310 Cost of goods sold 1,510 (a) $1,560 (b) $1,670 and (c) $1,510 (d) purchase returns and allowances (e) freight-in and (f) ending inventory Beginning inventory $70 Purchases $1,080 Purchase returns and allowances $50 50 Net Purchases 1,030 Freight-in
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Unformatted text preview: 250 Cost of goods purchased 1,280 Cost of goods available for sale 1,350 Ending inventory 120 Cost of goods sold $1,230 (d) $50 (e) $250 and (f) $120 (g) purchases (h) freight-in and (i) cost of goods available for sale Beginning inventory $1,000 Purchases $5,920 Purchase returns and allowances 290 290 Net Purchases 6,210 Freight-in 1,730 Cost of goods purchased 7,940 Cost of goods available for sale 8,940 Ending inventory 1,450 Cost of goods sold 7,490 (g) $5,920 (h) 1,730 and (i) $8,940 (j) beginning inventory (k) purchase returns and allowances (l) cost of goods purchased Beginning inventory $6,230 Purchases $43,590 Purchase returns and allowances $2,500 2,500 Net Purchases 41,090 Freight-in 2,240 Cost of goods purchased 43,300 Cost of goods available for sale 49,530 Ending inventory 6,230 Cost of goods sold 43,300 (j) $6,230 (k) $2,500 and (l) $43,300...
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