Question
Cruz Inc uses the perpetual inventory system. At the beginning of the quarter, Cruz Inc has $91,062 in inventory. During the quarter the company purchases
Cruz Inc uses the perpetual inventory system. At the beginning of the quarter, Cruz Inc has $91,062 in inventory. During the quarter the company purchases $28,346 of new inventory from a vendor, returned $5,736 of inventory to the vendor, and took advantage of discounts from the vendor of $500. The cost of goods sold for the quarter amounted to 46,410.
Calculate Ending Inventory.
Cruz Inc uses the perpetual inventory system. At the beginning of the quarter, Cruz Inc has $91,062 in inventory. During the quarter the company purchases $28,346 of new inventory from a vendor, returned $5,736 of inventory to the vendor, and took advantage of discounts from the vendor of $500. The cost of goods sold for the quarter amounted to 46,410.
Calculate Ending Inventory.
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Principles Of Financial Accounting
Authors: Christine Jonick
1st Edition
1940771153, 9781940771151
