Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 27, 2024

Splish Brothers Limited has the following information in its accounting records as at December 31, 2021: Purchases$130300 Freight in4800 Purchase returns and allowances12400 Beginning inventory57500

Splish Brothers Limited has the following information in its accounting records as at December 31, 2021:

Purchases$130300

Freight in4800

Purchase returns and allowances12400

Beginning inventory57500

A physical inventory count revealed that there was $67800 in ending inventory. The cost of goods sold is

a.$112400.

b.$130300.

c.$117900.

d.$135100.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Fundamentals Of Cost Accounting

Authors: William Lanen, Shannon Anderson

2nd Edition

0071332618, 978-0071332613

More Books

Students also viewed these Accounting questions

Question

★★★★★

Allstate Insurance is one of the major automobile insurance companies in the country. Recently, the western region claims manager instructed an intern in her department to develop a confidence...

Answered: 1 week ago

Question

★★★★★

Atenolol and enalapril are drugs used in the treatment of heart disease. Both of these drugs lower blood pressure (albeit in different ways) and reduce the risk of heart attack. Using the following...

Answered: 1 week ago

Question

★★★★★

Describe major criticisms of Freuds system of thought.

Answered: 1 week ago

Question

★★★★★

Charlies Chevy Sales and Service estimates the amount of uncollectible accounts using the percentage of receivables method. After aging the accounts, it is estimated that $3,935 will not be...

Answered: 1 week ago

Question

★★★★★

Topic: Sarbanes-Oxley Act of 2002 Find out about the Sarbanes-Oxley Act of 2002, its background, the reason for the law and its application and results during the last 15 years after it was approved....

Answered: 1 week ago

Question

★★★★★

Take a shot at analyzing your company, its customers and their value/jobs to be done. What is your company's customers' jobs to be done? here the focus changes, depending on whether you are a...

Answered: 1 week ago

Question

★★★★★

LMP Limited is a company founded by a group of marketing consultants. They had taken advantage of their clients career placement services, and thought they could offer additional supplemental...

Answered: 1 week ago

Question

★★★★★

Nissan Motors accepted an order for 10 units of Urvan Escapade on a job order cost system. Job 3-601 is assigned for this order. The following costs are incurred for the manufacture of the 10 unit:...

Answered: 1 week ago

Question

★★★★★

Can you discuss some aspect of the source that is interesting and why. Be sure to relate your post to some type of workplace hazard and/or method(s) for protecting employees from the hazard...

Answered: 1 week ago

Question

★★★★★

Use the following sections to write an essay on differentiated/decision- making theory in education a. Introduction b. Literature review c. Strengths and weakness d. Conclusion

Answered: 1 week ago

Question

★★★★★

Operating Leverage. Airlines offer an example of an industry in which the degree of operating leverage is fairly high. Why? Taking the public information of the last Annual Report published by an...

Answered: 1 week ago

Question

★★★★★

2. A Soviet invasion of Poland would lead to the severing of diplomatic relations between the United States and the Soviet Union.

Answered: 1 week ago

Question

★★★★★

1. Diplomatic relations between the United States and the Soviet Union would be severed in 1993 than that

Answered: 1 week ago

Question

★★★★★

2. Information that comes most readily to mind (availability).

Answered: 1 week ago

Previous Question Next Question