Below are the cost of goods sold sections for the most recent two years for two companies
Question:
Below are the cost of goods sold sections for the most recent two years for two companies using a periodic inventory system:
Instructions
Fill in the numbered blanks to complete the cost of goods sold sections.
Transcribed Image Text:
Company 1Company2 Beginning inventory $ 200 5$1,000 14 1,500 Purchase returns and allowances scounts Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold
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1 1420 1500 50 30 2 1550 1420 130 3 1750 1550 200 4 270 1750 1480 5 270 4 same as en...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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