Chapter 6 Homework Saved Help Sav. 1 In fiscal 2015, Madi's reported cost of goods sold (before shrinkage) of $18.5 billion, ending inventory for 2015 of $8.4 billion, and ending inventory for the previous year (2014) of $7.8 billion. Required: if the cost of inventory purchases was $19.4 billion, what was the cost of shrinkage during 2015? (Enter your answer in billions rounded to 1 decimal place.) 10 points Cost of Shrinkage billion eBook Print 8 During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows: Jan. + Purchased yode for 100 from Green with tone 3/10, 1/30. 6 Purchased goods from Monor for $650 with terns 3/10, 1/30. 14 Paid creen in full. Teb. 2 Paid Mein full. 28 Purchased goods for $150 from Reynolds with terns n/30. Required: Assume that Axe uses a perpetual inventory system, the company had no inventory on hand at the beginning of January, and no sales were made during January and February, Calculate the cost of inventory as of February 28. Bols Cast of Inventory Supply the missing dollar amounts for each of the following independent cases: 2 Cases Beginning Purchases Total Available Ending Cost of Inventory Goods Sold $ 250 Gross Profit Income from Operations Selling and General Expenses $ 450 400 Sales Revenue Inventory $ 3,800 $ 1,100 $ 1,510 810 600 1.520 10 points 450 1,200 250 B D 700 700 1,010 eBook 1,160 800 650 500 350 Print Chapter 6 Homework Sound Help Save & Exit s 4. During the month of June. Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June Purchased goods for $4,300 fron Diamond Inc. with term 2/15, 1/60. 5 Returned goods costing $1,200 to Diamond Tue. for credit on account. 6 Purchased goods from club Corp. for $1,100 with terns 2/15, 1/60. 11 Paid the balance oved to Diamond Ine. 22 Paid Club Corp. in full. 8 points Skipped Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month Calculate the cost of inventory as of June 30. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) obook Cost of inventory Pri