Exercise 4-20A Effect of inventory transactions on the income statement and balance sheet: Periodic system (Appendix) LO 4-9

Bill Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $2,900 in inventory. During the year, Rose Sporting Goods purchased inventory that cost $13,500. At the end of the year, inventory on hand amounted to $4,100. Required

Required a. Calculate the cost of goods available for sale during the year. Goods available for sale ed ook b. Calculate the cost of goods sold for the year. at nces Cost of goods sold c. Calculate the amount of inventory Rose Sporting Goods would report on its year-end balance sheet. Merchandise inventory