Question

Cost 150 130 120 150 AIS 1,000| $ 130 130 210 910 1,110 Hint#1

Answer 1

Cases	Sales revenue	Beginning inventory	Purchases	Total available	Ending inventory	Cost of goods sold	Gross Profit	Expenses	Pretax income(loss)
A	1000	300	850	1150	420	730	270	150	120
B	1160	130	980	1110	300	810	350	130	220
C	640	130	460	590	230	360	280	120	160
D	840	150	590	740	210	530	310	150	160
E	1060	200	910	1110	510	600	460	520	-60
Case A:
Total available	1150	300+850
Cost of goods sold	730	=1150-420
Gross Profit	270	=1000-730
Pretax income(loss)	120	=270-150
Case B:
Total available	1110	=130+980
Ending inventory	300	=1110-810
Cost of goods sold	810	=1160-350
Gross Profit	350	=130+220
Case C:
Sales revenue	640	=360+280
Purchases	460	=590-130
Total available	590	=360+230
Pretax income(loss)	160	=280-120
Case D:
Beginning inventory	150	=740-590
Total available	740	=530+210
Cost of goods sold	530	=840-310
Gross Profit	310	=150+160
Case E:
Beginning inventory	200	=1110-910
Ending inventory	510	=1110-600
Cost of goods sold	600	=1060-460
Expenses	520	=460+60