Q3.pdf - 9/12/2020 Question 3 HW 2 Correct Mark 24.00 out...

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9/12/2020HW 21/1Question3CorrectMark 24.00 out of 24.00Inferring Transactions from Financial StatementsCostco Wholesale Corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goodsat 762 U.S. and international locations. As of its fiscal year-end 2018, Costco had approximately 94.3 million members. Selected fiscal-year informationfrom the company's balance sheets follows.Selected Balance Sheet Data ($ millions)20182017Merchandise inventories$11,040$9,834Deferred membership income (liability)1,6241,498(a) During fiscal 2018, Costco collected $3,268 million cash for membership fees. Use the financial statement effects template to record the cashcollected for membership fees.
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Term
Winter
Professor
N/A
Tags
Balance Sheet, Costco Wholesale Corporation

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