Raynolde Company uses a periodic inventory system. At the end of 2007, the following information is available:

Question:

Purchases returns and allowances ......$ 1,400

Inventory, 12/31/2007 ............ 11,900

Purchases ................. 21,200

Inventory, 1/1/2007 ............. 10,800

Purchases discounts ............. 600

Required

Prepare a schedule to compute Raynolde Company’s cost of goods sold for 2007.

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Question Posted: Mar 10, 2012 05:54 AM

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Raynolde Company uses a periodic inventory system. At the end of 2007, the following information is available:

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Intermediate Accounting

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