Rick Dove is the owner of RD Cleaning. At the beginning of the year, RD Cleaning had
Question:
Rick Dove is the owner of RD Cleaning. At the beginning of the year, RD Cleaning had $4,800 in inventory. During the year, RD Cleaning purchased inventory that cost $26,000. At the end of the year, inventory on hand amounted to $3,600.
Required
Calculate the following:
a. Cost of goods available for sale during the year.
b. Cost of goods sold for the year.
c. Inventory amount RD Cleaning would report on its year-end balance sheet.
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Beginning Mdse Inventory 4800 Plus Merchandise Purchased 26000 Goods ...View the full answer
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Related Book For 
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
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