Homeier Heating reported the following amounts on its comparative balance sheets: The company uses the direct method
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The company uses the direct method on its statement of cash flows and reported that it spent $44,000 during 2014 to acquire inventory. Determine cost of goods sold expense for 2014.
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12/31/14 12/31/13 Current Assets: $66,000 Inventories Current Liabilities: $55,000 Accounts payable 33,000 24,000
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Related Book For
Financial Accounting The Impact on Decision Makers
ISBN: 978-1285182964
9th edition
Authors: Gary A. Porter, Curtis L. Norton
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