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Compute the Missing Inventory Values The following information was disclosed in the 2012 annual report of The Arcadia Company. HINT: Remember that ending inventory for
Compute the Missing Inventory Values | |||
The following information was disclosed in the 2012 annual report of The Arcadia Company. | |||
HINT: Remember that ending inventory for one year is the beginning inventory for the next year | |||
2010 | 2011 | 2012 | |
Beginning inventory | $11,560 | ||
Purchase of inventory | 42,640 | 45,850 | |
Inventory available for sale | 54,200 | ||
Ending inventory | 9,655 | ||
Cost of goods sold | 43,715 | 42,480 | 13,600 |
Formula to Calculate missing values | |||
Beginning Inventory | |||
+ Purchases | |||
= Goods Available for Sale | |||
-Cost of Goods Sold | |||
= Ending Inventory |
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