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All accompanying documents of Mega corp. regarding inventories that got lost in reallocation of the company this new year. Financial director has been given the
All accompanying documents of Mega corp. regarding inventories that got lost in reallocation of the company this new year. Financial director has been given the task to assume inventory at the end of the year and costs of goods sold in the year. Last years the forss profit ratio has been 35%. Sales of the yeat was 755000000$. Inventories were valued at 453000000$. Inventory purchasing for the year was 275000000$
Show in the income statement with all calculations (calculations can be in MS Excel)
Costs of goods sold
Ending inventory
Gross profit
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