This preview shows page 1. Sign up to view the full content.
Unformatted text preview: 5-3A: D) $15,000 E) $7,000 F) Net cash flow takes into account a transaction that occurred prior to this sequence of events. 5-5A: A) FOB Destination = seller B) FOB Shipping point = buyer C) FOB Destination = seller D) FOB shipping point = buyer 5-16A: A) Cost of goods available for sale during the year: $1,200 beginning inventory + $6,500 purchased = $7,700 cost of goods available Cost of goods sold for the year: $1,200 beginning inventory + $6,500 purchased - $1,800 ending inventory. = $5,900 cost of goods sold for the year Inventory amount The Clothes Shop would report on its ending balance sheet Ending inventory = $1,800 B) C) ...
View Full Document
This homework help was uploaded on 04/09/2008 for the course ACCT 221 taught by Professor Catherinewest during the Fall '06 term at UMass (Amherst).
- Fall '06