Question
Cabral Office Products sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of 2019,
Cabral Office Products sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of 2019, there were 200 cartridges on hand at a cost of $60 each. During 2019, Cabral Office Products purchased 1,400 cartridges at $60 each. After inspection, Cabral determined that 10 cartridges were defective and returned them to the supplier. Cabral also sold 800 cartridges at $93 each and sold an additional 750 cartridges at $102 each after a midyear selling price increase. Customers returned 15 of the cartridges that were purchased at $102 to Cabral for miscellaneous reasons. Assume that Cabral Office Products uses a perpetual inventory system.
What is the cost of ending inventory, cost of goods sold, and gross profit for 2019?
2. What is the cost of ending inventory, cost of goods sold, and gross profit for 2019 Cost of ending inventory 3,300v Cost of goods sold92,100 Gross profitStep by Step Solution
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