BProblemsChapter 6

BProblemsChapter 6 - Problem 6-1 The completed table is...

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Unformatted text preview: Problem 6-1 The completed table is shown below. Each deduction involves the basic inventory equation. Ending inventory = Beginning Inventory + Purchase Shipments (COGS) as well as the basic relationships inherent in any income statement, that is:, Income = Revenues Expenses Co. W Co. X Co. Y Co. Z Sales................................................................................................................................................................................ $2,250 $1,800 $1,350 $2,100 Cost of goods sold:......................................................................................................................................................... Beginning inventory................................................................................................................................................... 300 225 500 300 Plus: Purchases...........................................................................................................................................................Plus: Purchases....
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This note was uploaded on 12/07/2010 for the course ACCT 2030 taught by Professor Harris during the Spring '10 term at U. Memphis.

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BProblemsChapter 6 - Problem 6-1 The completed table is...

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