Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

if you can i do need help with all three shown below. mostly confused on what formulas i would use to find the missing part.

if you can i do need help with all three shown below. mostly confused on what formulas i would use to find the missing part. thank you very much :) image text in transcribed
If Cost of Goods Sold is $303,000, ending inventory is $45,000, and purchases were $343,000 (assume all on account), what is beginning inventory? A) $80,000 B) $308,000 C) $40,000 D) $5000 If beginning inventory is $113,000, ending inventory is $198,000, and purchases were $397,000 (assume all on account), what is Cost of Goods Sold? A) $86,000 B) $312,000 C) $1000 D) $482,000 On December 31 st, Datton, Inc. has cost of goods sold of $540,000, ending inventory is $100,000, beginning inventory is $128,000; and average accounts payable is $102,000. What is the accounts payable turnover? (Round your answer two decimal places.) A) 8.53 B) 3.06 C) 5.57 D) 5.02

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Evaluating The Effectiveness On Internal Audit Departments

Authors: W. Steve Albrecht, Keith R. Howe, Dennis R. Schueler, Kevin D. Stocks

1st Edition

089413177X, 978-0894131776

More Books

Students also viewed these Accounting questions