If beginning inventory is $60,000, purchases total $135,000, and ending inventory is $62,500, how much is cost

Question:

If beginning inventory is $60,000, purchases total $135,000, and ending inventory is $62,500, how much is cost of goods sold?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Horngrens Accounting Volume 1

ISBN: 9780136889373

12th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

See More Books

Question Posted: May 14, 2023 05:25 AM

See More Questions

26. With its current leverage, Impi Corporation will have net income next year of 4.5 million. If Impis corporate tax rate is 35% and pay 8% interest on its debt, how much additional debt can Impi...
The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 48 $225...
On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $90 000. The original cost of the inventory was $60 000. Beta Ltd treats the inventory in its accounts as a non-current asset. What would...
There are several types of interviews. List and define the methods of interviewing. List and discuss the different types of employment tests. List and discuss the uses of the performance appraisal -...
Study the three predictor variables in Problem 14.18 and attempt to determine whether substantial multicollinearity is present among the predictor variables. If there is a problem of...
True/False: In SQL, the not-equal-to operator is !=, which is the same as in Java.
Flow of a viscous fluid over a flat plate surface results in the development of a region of reduced velocity adjacent to the wetted surface as depicted in Fig. P5.25. This region of reduced flow is...
Cardio Care Inc. manufactures stationary bicycles and rowing machines. The products are produced in the Fabrication and Assembly production departments. In addition to production activities, several...
Nitrogen is contained in a 5 - m 3 rigid vessel at a pressure of 2 2 0 0 kPa What would be the height of a column of mercury ( in mm ) in a manometer for this pressure? The density for mercury is 1 3...
If beginning inventory is $44,000, purchases total $109,000, and cost of goods sold is $115,000, how much is ending inventory?
Buntzell Industrial Supplies distributes industrial equipment. The companys fiscal year ends on March 31, 2023. One department in the company had 50 industrial sinks that cost $540 each on hand at...
Earth's orbit has a semimajor axis $a=1.496 \times 10^{8} \mathrm{~km}$ and eccentricity $\epsilon=0.017$. Find the general relativistic precession of the earth's perihelion in seconds of arc per...
Suppose Y = home price per square foot has a normal distribution with a mean of 100 and a standard deviation of 20. (a) What value separates the most expensive 25% of homes from the less expensive...
Use the information given in Problem 23 to find: (a) P(A 1 |E) (b) P(A 2 |E) (c) P(A 3 |E) Data from Problem 23 Suppose that events A 1 , A 2 , and A 3 form a partition of the sample space S with P(A...
P(B|E) Find the indicated probabilities by referring to the given tree diagram and by using Bayess Rule. A P(A) = 0.2 P(E|A)=0.6 E P(ECA) = 0.4 -EC P(B) = 0.55 P(E|B)=0.7 -E B EC P(E|B) = 0.3 P(C) =...
The weather forecast says there is a 40% chance of rain today and a 30% chance of rain tomorrow. Assume the days are independent. (a) What is the chance of rain on both days? (b) What is the chance...
P(B|E c ) Find the indicated probabilities by referring to the given tree diagram and by using Bayess Rule. A P(A) = 0.2 P(E|A)=0.6 E P(ECA) = 0.4 -EC P(B) = 0.55 P(E|B)=0.7 -E B EC P(E|B) = 0.3 P(C)...
A commercial bakery' has recorded sales (in dozens) for three products during the last 15 workdays: a. Plot the three time series variables to determine their pattern. b. Forecast workday 16 sales...
Open Text Corporation provides a suite of business information software products. Exhibit 10-9 contains Note 10 from the companys 2013 annual report detailing long-term debt. Required: a. Open Text...
Southern Amusements Corporation had the following stockholders' equity on November 30: On December 30, Southern purchased 200 shares of treasury stock at $15 per share. Requirements 1. Journalize the...
Wolcott Corporation issued 5,000 shares of no-par common stock for $2 per share on January 13. Record the stock issuance.
Faccone Academy Surplus had 60,000 shares of common stock and 9,000 shares of 20%, $15 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was...
Tom sold mutual fund share he had owned 3 years so that he could use the precedes to return to college. Tom is in the 15% marginal tax bracket and his capital gains from this sale were $64,300. How...
Consider an Sn2 reaction of NaSH in a polar aprotic solvent with (CH3)2CHCH2CH2X. What would be the relative order of reactivity for the following X substituents? I. X= I II. X=Br III. X=Cl IV. X=F...
The following cash flows result from a potential engineering project for GoldBrick Engineering: 1. Receiving $250,000 at the start of the project and $600,000 at the end of the fourth year 2....

If beginning inventory is $60,000, purchases total $135,000, and ending inventory is $62,500, how much is cost

Question:

Step by Step Answer:

To calculate the cost of goods sold COGS we can use the following formula C...View the full answer

Horngrens Accounting Volume 1

Students also viewed these Business questions