Popular Computer Store provides the following information to determine the cost in the periodic method:

The physical inventory of merchandise carried out on December 31, 2017 resulted in 350 laptops.
During the year 2018, 12,500 laptops were purchased; however, only 12,250 entered the warehouse, since 250 were returned to the suppliers for not meeting the required quality.
At the end of 2018, a physical inventory was taken, the result of which was 360 laptops.

Set the equation for this exercise in the periodic method.

Answer rating: 100% (QA)

In the periodic inventory method the cost of goods sold is calculated by subtracting the cost of end... View the full answer