Question: Compute the Missing Inventory Values The following information was disclosed in the 2012 annual report of The Arcadia Company. HINT: Remember that ending inventory for
| Compute the Missing Inventory Values | |||
| The following information was disclosed in the 2012 annual report of The Arcadia Company. | |||
| HINT: Remember that ending inventory for one year is the beginning inventory for the next year | |||
| 2010 | 2011 | 2012 | |
| Beginning inventory | $11,560 | ||
| Purchase of inventory | 42,640 | 45,850 | |
| Inventory available for sale | 54,200 | ||
| Ending inventory | 9,655 | ||
| Cost of goods sold | 43,715 | 42,480 | 13,600 |
| Formula to Calculate missing values | |||
| Beginning Inventory | |||
| + Purchases | |||
| = Goods Available for Sale | |||
| -Cost of Goods Sold | |||
| = Ending Inventory | |||
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