California Pool Supplies inventory data for the year ended December 31, 2012, follow: Assume that the ending

Question:

California Pool Supplies€™ inventory data for the year ended December 31, 2012, follow:

Sales revenue $60,000 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Ending inventory Cos

Assume that the ending inventory was accidentally overstated by $2,400.
Requirement
1. What are the correct amounts for cost of goods sold and grossprofit?

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Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

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Question Posted: Dec 16, 2011 07:25 AM

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California Pool Supplies inventory data for the year ended December 31, 2012, follow: Assume that the ending

Question:

Sales revenue $60,000 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Ending inventory Cost of goods sold Gross profit $ 4,200 26,600 $ 30,800 (6,200) $ 24,600 $ 35,400

Step by Step Answer:

Req 1 Cost of goods s...View the full answer

Accounting

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