{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T14:10:09-04:00", "answer_date": "2024-05-29 14:10:09", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1888998", "url": "\/study-help\/questions\/93-swell-company-reported-the-following-income-statement-data-for-1888998", "question_creation_date_js": "2024-05-29T14:10:09-04:00", "question_creation_date": "May 29, 2024 02:10 PM", "meta_title": "[Solved] 9-3: Swell Company reported the following | SolutionInn", "meta_description": "Answer of - 9-3: Swell Company reported the following income statement data for a 2-year period. Sales Cost of goods sold Beginnin | SolutionInn", "meta_keywords": "9-3,swell,company,reported,income,statement,data,2-year,period,sales,cost,goods", "question_title_h1": " 9-3: Swell Company reported the following income statement data for a 2-year period. Sales Cost of goods sold Beginning inventory 2018 $260,000 2019 $320,000", "question_title": " 9-3: Swell Company reported the following income statement data for a", "question_title_for_js_snippet": "9 3 Swell Company reported the following income statement data for a 2 year period Sales Cost of goods sold Beginning inventory 2018 $260,000 2019 $320,000 32,000 44,000 Cost of goods purchased 193 000 225 000 Cost of goods available for sale 225,000 269,000 Ending inventory 44 000 52 000 Cost of goods sold 181 000 217 000 $79 000 $103 000 Gross profit Swell uses a periodic inventory system The inventories at January 1, 2018, and December 31, 2019, are correct However, the ending inventory at December 31, 2018, was overstated $3,000 Instructions Prepare correct income statement data for the 2 years ", "question_description": "\"image", "transcribed_text": "9-3: Swell Company reported the following income statement data for a 2-year period. Sales Cost of goods sold Beginning inventory 2018 $260,000 2019 $320,000 32,000 44,000 Cost of goods purchased 193.000 225.000 Cost of goods available for sale 225,000 269,000 Ending inventory 44.000 52.000 Cost of goods sold 181.000 217.000 $79.000 $103.000 Gross profit Swell uses a periodic inventory system. The inventories at January 1, 2018, and December 31, 2019, are correct. However, the ending inventory at December 31, 2018, was overstated $3,000. Instructions Prepare correct income statement data for the 2 years.", "related_book": { "title": "Advanced Accounting", "isbn": "978-0132568968, 9780132568968", "edition": "11th Edition", "authors": "Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/55.jpg", "uri": "\/textbooks\/advanced-accounting-11th-edition-9780132568968", "see_more_uri": "" }, "free_related_book": { "isbn": "B09MD63M3F", "uri": "\/textbooks\/determine-the-best-health-insurance-how-to-pick-a-health-insurance-plan-expert-tips-1st-edition-979-8776029387-261160", "name": "Determine The Best Health Insurance How To Pick A Health Insurance Plan Expert Tips", "edition": "1st Edition" }, "question_posted": "2024-05-29 14:10:09", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/financial-statements-for-the-actactstat-company-are-given-belowduring-2021-460354", "description": "Financial statements for the ACTACTSTAT Company are given below: During 2021 the firm declared and paid cash dividends of P85,000. 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