Based on the following data, determine the cost of goods sold for April: Inventory, April 1 ............
Question:
Inventory, April 1 ............ $ 15,000
Inventory, April 30 ...........28,000
Purchases ............... 290,000
Purchases returns and allowances ...... 10,000
Purchases discounts........... 5,800
Freight In ................ 4,200
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (20 reviews)
Cost of goods sold Inventory April 1 15000 Purchases 290000 Less Purchases returns ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0176509743
Volume 1, 2nd canadian Edition
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Question Posted:
Students also viewed these Accounting questions
-
Determine the cost of goods sold for the period. Refer to E9.12. Using the following information, determine the cost of goods manufactured and the ending direct materials inventory balance for Steele...
-
Determine the cost of the land based on the following data Land purchase price 180000 Brokers commission 15000 Payment for the demolition and removal of existing building 5000 Cash received from the...
-
Consider the market for petrol. Which of the following changes would most likely lead to a decrease in supply? Group of answer choices (a) An increase in the price of petrol cars. (b) The cost of oil...
-
Listed below are ages of actresses and actors at the times that they won Oscars. The data are paired according to the years that they won. Use a 0.05 significance level to test the claim that there...
-
Sparkling Water, Inc., expects to sell 5 million bottles of drinking water each year in perpetuity. This year, each bottle will sell for $1.10 in real terms and will cost $0.89 in real terms. Sales...
-
The best way to learn the balance sheet is to create one. Build a balance sheet for you or your family. Describe the process of defining and estimating your assets, liabilities, and net wealth....
-
Part 1. Craig, Cook, and Chan are partners and share income and loss in a 5:1:4 ratio. The partnerships capital balances are as follows: Craig, $606,000; Cook, $148,000; and Chan, $446,000. Craig...
-
In 2008, Interbrand listed Starbucks as having the 85th most valuable brand name in the world and estimated brand value to be $3.9 billion. Examine the disclosures for intangible long-lived assets in...
-
In general, would the degree of forecasting risk be greater for an entirely new service offering or merely a cost-cutting investment in your non-profit business? Explain 2. Is Sensitivity Analysis...
-
A power company is considering how to increase its generating capacity to meet expected demand in its growing service area. Currently, the company has 750 megawatts (MW) of generating capacity but...
-
The following selected transactions were completed by Cold Company during February of the current year. Cold Company uses the periodic inventory system. Feb. 2. Purchased $17,500 of merchandise on...
-
Based on the following data, determine the cost of goods sold for March: Inventory, March 1 ............ $100,000 Inventory, March 31 ........... 90,000 Purchases ............... 800,000 Purchases...
-
Analyze and explain in the perspective of The Bill of Rights: which each one of the first ten amendments means to you personally?
-
PROVIDE A CASE BRIEF FOR THE FOLLOWING CASE PROVIDED BELOW: PEOPLE v. REKTE Court of Appeal, Fourth District, Division 2, California. The PEOPLE, Plaintiff and Respondent, v. Viktors Andris REKTE,...
-
The time between release from prison and another crime charge for a certain group of men is 36 months with a standard deviation of 9 months. What percentage of men get charged with a second crime...
-
capacitance simulation: https://phet.colorado.edu/sims/html/capacitor-lab-basics/latest/capacitor-lab-basics_en.html w Lab 4 (1).docx Homework Help - Q&A from Or x + C...
-
Mel Jackson, a resident of Tennessee, has been a driver for Blues Delivery Company for the past 7 years. For this purpose, he leases a truck from Blue, and his compensation is based on a percentage...
-
On Halloween night, a small boy decided to dress up as a bank robber. He went to house where the lights were on, indicating that the owner was receiving trick-or-treaters. When the homeowner, a...
-
Image intensifiers used in nightvision devices create a bright image from dim light by letting the light first fall on a photocathode. Electrons emitted by the photoelectric effect are accelerated...
-
Which should drive action planning more, strengths or weaknesses? That is, is it more important to build on your strengths or to reduce your weaknesses? Explain.
-
Mark, a project leader in Austin, Texas, needed a new software engineer for his eight-person team. He used his network, reviewed rsums, and invited 15 candidates for interviews. In addition he had...
-
The following are the major balance sheet classifications: Current assets (CA).......... Current liabilities (CL) Long-term investments (LTI)....... Long-term liabilities (LTL) Property, plant, and...
-
The accounting cycle is important in understanding the accounting process. Instructions Write a memo to your instructor that lists the steps of the accounting cycle in the order they should be...
-
Describe the parts of a T account.
-
a canadian investor puts money into an australian investment that offers an interest rate of 5% for six minths. The australian dollar appreciates by 6% over this period of six months. What is the...
-
Los siguientes datos corresponden a las operaciones de Turk Company el ao pasado: Ventas $ 900 000 Utilidad operativa neta $ 36 000 Margen de contribucin $ 150 000 Activos operativos promedio $ 180...
-
Problem 16-16 Tax Shields (LO2) River Cruises is all-equity-financed with 53,000 shares. It now proposes to issue $280,000 of debt at an interest rate of 12% and to use the proceeds to repurchase...
Study smarter with the SolutionInn App