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Supply the missing dollar amounts for each of the following independent cases: Cases Purchases Cost of Goods Available for Sale Cost of Goods Sold Cost
Supply the missing dollar amounts for each of the following independent cases: Cases Purchases Cost of Goods Available for Sale Cost of Goods Sold Cost of Ending Inventory Gross Profit Sales Beginning Revenue Inventory $ 1,550 $ 950 1,750 1,050 A $ 1,650 $ 1,220 B 1,650 1,020 1,150 C 950 1,250 1,050 1,500 D 1,720 1,450 1,100 E 1,850 900 1,750 1,420 During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $3,700 from Diamond Incorporated with terms 2/15, n/60. June 5 Returned goods costing $1,300 to Diamond Incorporated for credit on account. June 6 Purchased goods from club Corporation for $150 with terms 2/15, n/60. June 11 Paid the balance owed to Diamond Incorporated. June 22 Paid Club Corporation in full. Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. Calculate the cost of inventory as of June 30. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Cost of Inventory
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