Question
2 Questions I have the answer need explanation how to get it 1.) ODea, Inc. has the following inventory data: July 1 Beginning Inventory 20
2 Questions I have the answer need explanation how to get it
1.) ODea, Inc. has the following inventory data:
July 1 Beginning Inventory 20 units at $19 $380
July 7 Purchases 70 units at $20 $1,400
July 22 Purchases 10 units at $22 $220
100 $2,000
A physical count of merchandise inventory on July 31 revealed that there are 32 units on hand.
Using the average cost inventory method, what is Cost of Goods Sold amount for July? the answer is: $1360 how can you explain
2.) At the end of the year, Parker Company had sales revenue of $725,500, sales discounts of $35,000, gross profit of $345,000, rent expense of $55,000, and income tax expense of $40,000. In the context of the multiple-step income statement, what is Parker Company's Cost of Goods Sold (COGS)? the answer is: $345500 how can you show calculations
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