Homework Answers
| Beginning Inventory | Purchases | Cost of Goods Available for Sale | Ending Inventory | Cost of Goods Sold | |
| 1. | $250000 | $170000 | (a) $420000 | $50000 | (b) $370000 |
| 2. | 108000 | 70000 | (c) 178000 | (d) 88000 | 90000 |
| 3. | 75000 | (e) 55000 | 130000 | (f) 92000 | 38000 |
| 4. | (g) 20000 | 75000 | 95000 | 45000 | (h) 50000 |
(a) Cost of goods available for sale= Beginning Inventory+Purchases
= $250000+170000= $420000
(b) Cost of goods sold= Cost of goods available for sale-Ending inventory
= $420000-50000= $370000
(c) Cost of goods available for sale= Beginning Inventory+Purchases
= $108000+70000= $178000
(d) Ending inventory= Cost of goods available for sale-Cost of goods sold
= $178000-90000= $88000
(e) Purchases= Cost of goods available for sale-Beginning inventory
= $130000-75000= $55000
(f) Ending inventory= Cost of goods available for sale-Cost of goods sold
= $130000-38000= $92000
(g) Beginning inventory= Cost of goods available for sale-Purchases
= $95000-75000= $20000
(h) Cost of goods sold= Cost of goods available for sale-Ending inventory
= $95000-45000= $50000
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BE5-2 Presented below are the components in determining cost of goods sold. Determine the missing amounts....
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning...
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory $78,000 Cost of Goods Available for Sale Ending Inventory Purchases $98,000 $ (a) $48,000 $ (c) $113,000 $33,000 (e) $108,000 $ 158,000 W $27,000 Presented below are the components in determining cost of goods sold. Determine the missing amounts. Cost of Goods Available for Sale Ending Inventory Cost of goods sold 'chases $98,000 $ (b) $118.000 (c) $113,000 $33,000 $ (d) $108,000 $158,000...
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning...
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory Cost of Goods Available for Sale Ending Inventory Purchases Cost of goods sold $129,000 $89,000 $119,000 (b) $58,000 $123,000 $42,000 (e) $109,000 $169,000 $35,000
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning...
Presented below are the components in determining cost of goods
sold. Determine the missing amounts.
Beginning
Inventory
Purchases
Cost of
Goods
Available for Sale
Ending
Inventory
Cost of
goods sold
$84,000
$114,000
$
(a)
$
(b)
$120,000
$53,000
$
(c)
$118,000
$33,000
$
(d)
$
(e)
$104,000
$161,000
$27,000
$
(f)
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Determine the missing ammounts in each of the following independent cases. Determine the missing amounts in...
Determine the missing ammounts in each of the following
independent cases.
Determine the missing amounts in each of the following independent cases. Case A Case B $ 20,000 Case C $ 15,000 30,000 90,000 100,000 70,000 85,000 95,000 100,000 250,000 520,000 35,000 125,000 160,000 340,000 345,000 20,000 35,000 5,000 350,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in...
Presented below are the components in determining cost of goods sold. Determine the missing amounts.
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Determine the missing amounts in each of the following independent cases. Case A Case B Case...
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BE5-2 Presented below are the components in Gates Company's income statement. Determine the missing amounts. Sales...
BE5-2 Presented below are the components in Gates Company's income statement. Determine the missing amounts. Sales Cost of Gross Operating Net Revenue Goods Sold Profit Expenses Income (a) $ 75,000 ? $30,000 ? $10,800 (b) $108,000 $70,000 ? ? $29,500 ? $83,900 $79,600 $39,500 ? E5-2 Information related to Harwick Co. is presented below. 1. On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $900...
For each of the following, determine the missing amounts. ...
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Case B $ 20,000 Case A $ 10,000 90,000 100,000 70,000 Case C $ 15,000 30,000...
Case B $ 20,000 Case A $ 10,000 90,000 100,000 70,000 Case C $ 15,000 30,000 85,000 95,000 100,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for sale Ending inventory, finished goods Cost of goods sold 125,000 160,000 340,000 250,000 520,000 35,000 345,000 20,000...
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory $78,000 Cost of Goods Available for Sale Ending Inventory Purchases $98,000 $ (a) $48,000 $ (c) $113,000 $33,000 (e) $108,000 $ 158,000 W $27,000 Presented below are the components in determining cost of goods sold. Determine the missing amounts. Cost of Goods Available for Sale Ending Inventory Cost of goods sold 'chases $98,000 $ (b) $118.000 (c) $113,000 $33,000 $ (d) $108,000 $158,000...
Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory Cost of Goods Available for Sale Ending Inventory Purchases Cost of goods sold $129,000 $89,000 $119,000 (b) $58,000 $123,000 $42,000 (e) $109,000 $169,000 $35,000
Presented below are the components in determining cost of goods
sold. Determine the missing amounts.
Beginning
Inventory
Purchases
Cost of
Goods
Available for Sale
Ending
Inventory
Cost of
goods sold
$84,000
$114,000
$
(a)
$
(b)
$120,000
$53,000
$
(c)
$118,000
$33,000
$
(d)
$
(e)
$104,000
$161,000
$27,000
$
(f)
Determine the missing ammounts in each of the following
independent cases.
Determine the missing amounts in each of the following independent cases. Case A Case B $ 20,000 Case C $ 15,000 30,000 90,000 100,000 70,000 85,000 95,000 100,000 250,000 520,000 35,000 125,000 160,000 340,000 345,000 20,000 35,000 5,000 350,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in...
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Case B $ 20,000 Case A $ 10,000 90,000 100,000 70,000 Case C $ 15,000 30,000 85,000 95,000 100,000 Beginning inventory, raw material Ending inventory, raw material Purchases of raw material Direct material Direct labor Manufacturing overhead Total manufacturing costs Beginning inventory, work in process Ending inventory, work in process Cost of goods manufactured Beginning inventory, finished goods Cost of goods available for sale Ending inventory, finished goods Cost of goods sold 125,000 160,000 340,000 250,000 520,000 35,000 345,000 20,000...
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