Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 19, 2024

If the cost of good sold is 9 6 , 0 0 0 beginning merchandise inventory 8 0 0 0 and merchandise purchase are 1

If the cost of good sold is

96, 000

beginning merchandise inventory

8000

and merchandise purchase are

110, 000

then What is the ending merchandise inventory? Show your Calculations.

Step by Step Solution

★★★★★

3.36 Rating (152 Votes )

There are 3 Steps involved in it

Step: 1

To calculate the ending merchandise inventory we can use the formula Ending Merchandise Inventory Be... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

10th Canadian edition Volume 1

978-0134213101, 134213106, 133855376, 978-0133855371

More Books

Students also viewed these Accounting questions

Question

★★★★★

Determine the x, y, z components of the angular momentum Hp of the particle having a mass of m = 4.4 kg about point P using scalar notation. (Figure 1) Express your answers using three significant...

Answered: 1 week ago

Question

★★★★★

. A vertical pole that is 2 meters tall casts a shadow that is 1.5 meters long. Nearby, at the same time, another vertical pole casts a shadow that is 6.5 meters long. How tall is this pole? a. Make...

Answered: 1 week ago

Question

★★★★★

Refer to the situation described in P 192. Assume Pastner measures the fair value of all options on January 1, 2021, to be $4.50 per option using a single weighted-average expected life of the...

Answered: 1 week ago

Question

★★★★★

This exercise tests your understanding of accounting for inventory. Provide a word or phrase that best fits the description. Assume that the cost of inventory is rising. __ 1. Generally associated...

Answered: 1 week ago

Question

★★★★★

A manufacturing company began operations five years ago. At that time, the company selected an accounting software geared for small companies. With the rapid growth that the company has experienced...

Answered: 1 week ago

Question

★★★★★

Describe ways that faith and religion affect the lives and experiences of believers and nonbelievers.

Answered: 1 week ago

Question

★★★★★

Dubois sold Hocking a condominium that included an option to participate in a rental pool arrangement. Hocking elected to participate in the arrangement. Under it, the rental pool's agent rented...

Answered: 1 week ago

Question

★★★★★

Q 5 ) US residents consume roughly 1 0 million barrels per day of gasoline for transportation fuel. a ) Using the ethanol yields projected to be attainable from advanced fermentation technology in...

Answered: 1 week ago

Question

★★★★★

A shaft is to be designed to support the spur pinion and helical gear shown in the figure on two bearings spaced 700 mm center-to-center. Bearing A is a cylindrical roller and is to take only radial...

Answered: 1 week ago

Question

★★★★★

I am extremly confused by this question. I have started getting the entries. But the other tems im confused on . Prepare accurate journal entries with the correct ledger accounts on the Milestone...

Answered: 1 week ago

Question

★★★★★

You are a chairperson of source selection, evaluation board for a new jet engine. You had to brief a SSEB member on the procedures for protecting source selection, information what procedures would...

Answered: 1 week ago

Question

★★★★★

3. Plastex Corporation is considering expanding but wishes to control growth by imposing a limit on capital on capital expenditures of $500,000. The capital investment opportunities are: +...

Answered: 1 week ago

Question

★★★★★

Read this case, and just answer question 1 and 2, do not need to answer the rest of questions. 1.For HTC's hardware product revenue stream, what is the distinguishing factor that should be considered...

Answered: 1 week ago

Question

★★★★★

Pharmaceutical Benefits Managers (PBMs) are intermediaries between upstream drug manufacturers and downstream insurance companies. They design formularies (lists of drugs that insurance will cover)...

Answered: 1 week ago

Question

★★★★★

9 3 points 03:02:45 Skipped Javon Company set standards of 2 hours of direct labor per unit at a rate of $15.10 per hour. During October, the company actually uses 11,000 hours of direct labor at a...

Answered: 1 week ago

Question

★★★★★

Question 3 B0/1 pt 5 5 3 4 Details Cask'n'Cork wine shop has a markup rate of 19.4% on cost. What price will the shop charge for a bottle of wine that costs $23.40? Round the answer to the nearest...

Answered: 1 week ago

Question

★★★★★

Pearson Education, a publisher of college textbooks, would like to know if students prefer traditional textbooks or digital textbooks. A random sample of students was asked their preference and the...

Answered: 1 week ago

Question

★★★★★

After preparing the FIFO perpetual inventory record in Exercise 6-2, journalize Creative Kaos Store's May 8 purchase of inventory on account and the cash sale on May 17 (sale price of each guitar was...

Answered: 1 week ago

Question

★★★★★

An employee of Ellerback Event Planning recently stole thousands of dollars of the company's cash. The company has decided to install a new system of internal controls. Required As controller of...

Answered: 1 week ago

Question

★★★★★

During February, Dean Products had the following transactions: Feb. 3 Paid $490 on account to Marquis Corp. net of a $10 discount for an earlier purchase of inventory. 6 Purchased inventory for cash,...

Answered: 1 week ago

Question

★★★★★

Research by the First Bank of Illinois revealed that 8% of its customers wait more than 5 minutes for a teller in a bank lobby. Management considers this reasonable and will not add more tellers...

Answered: 1 week ago

Question

★★★★★

A series of questions on sports and world events was asked of 14 randomly selected young adult naturalized citizens. The results were translated into sports and world events knowledge scores. The...

Answered: 1 week ago

Question

★★★★★

The objective of a community research project is to determine whether women are more community conscious before marriage or after 5 years of marriage. A test designed to measure community...

Answered: 1 week ago

Previous Question Next Question