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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!