Reconstruction of Transactions Consider the following account balances of Costco Wholesale Corporation, the Seattle-based ware- house store

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Reconstruction of Transactions Consider the following account balances of Costco Wholesale Corporation, the Seattle-based ware- house store operator ($ in millions): August 31 2003 September 1 2002 Merchandise Inventories $3,339 $3,127 On Costco's income statement for the fiscal year 2003, the cost of the merchandise sold was $37,325 million. Compute the net cost of the acquisition of inventory for the fiscal year ending August 31, 2003.

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Introduction To Financial Accounting

ISBN: 0131479725

9th Edition

Authors: Charles T Horngren, John A Elliott

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