Question
The Coca-Cola Company has the following inventory data: Beginning Inventory: $300,000 Purchases: $1,500,000 Ending Inventory: $400,000 Sales Revenue: $2,000,000 Calculate the cost of goods sold,
The Coca-Cola Company has the following inventory data:
- Beginning Inventory: $300,000
- Purchases: $1,500,000
- Ending Inventory: $400,000
- Sales Revenue: $2,000,000
Calculate the cost of goods sold, gross profit, and inventory turnover ratio. Discuss the impact of inventory adjustments on financial statements.
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
IFRS 3rd edition
1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085
