Ch6 - Inventory Cash Accounts Receivable Sales Cost Goods...

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Inventory 3.80 Cash 3.80 Accounts Receivable 19.70 Sales 19.70 Cost Goods sold 4.50 Inventory 4.50 Cash 18.80 Accounts Receivable 18.80
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units cost total cost Beginning Inventory 5 150 750 + Purcashes 12/15 4 150 600 + Purchases 12/26 12 160 1,920 Goods Available for Sale 21 3,270 - Ending Inventory 9 Cost Of Goods Sold 12 Inventory 2,520 Accounts Payable 2,520 Accounts Receivable 6,600 Sales 6,600 Cost of Goods Sold 1,830 Inventory 1,830 Sales 6,600 -CGS 1,830 Gross Profit 4,770 72.27%
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Avg Cost $155.71 FIFO units cost Total Cost B/I 5 150 750 12/15 4 150 600 12/26 3 160 480 1,830 option#1 1,440 Goods Available - CGS = End Inv option#2 FIFO 9 160 1,440
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cost total cost Beginning Inventory 5 150 750 + Purcashes 12/15 4 150 600 + Purchases 12/26 12 160 1,920 Goods Available for Sale 21 3,270 - Ending Inventory 9 Cost Of Goods Sold 12 Inventory 2,520 Accounts Payable 2,520 Accounts Receivable 6,600 Sales 6,600 Cost of Goods Sold 1,860 Inventory 1,860 Sales 6,600 -CGS 1,860 Gross Profit 4,740 71.82%
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This note was uploaded on 09/16/2011 for the course ACG 2021 taught by Professor Hornik during the Spring '08 term at University of Central Florida.

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Ch6 - Inventory Cash Accounts Receivable Sales Cost Goods...

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