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three questions: Clement Limited uses a periodic inventory system. The final inventory count showed that there was $58622 of inventory on hand at the end
three questions: Clement Limited uses a periodic inventory system. The final inventory count showed that there was $58622 of inventory on hand at the end of the year. The general ledger has the following account balances as at December 31, 20x6: Inventory 91444 Purchases In the entry to close out the temporary accounts above, how much would be debited to Cost of Goods of Sold? Select one: a. $327715 b. $365390 oc. $299746 O d. $424012 An entity has the following inventory transactions for an item of Inventory: $1150 Opening Inventory 115 units @10 Purchase 1 212 units @ 14 Sale 1 53 units $2968 What is the ending inventory assuming the entity uses the periodic weighted average method? Select one: a $2740 O b. $3836 c. $3588 d. $3451 Burt Company's accounting records indicated the following Information: Inventory, January 1, 20x9 Purchases during 20x9 Sales during 20x9 $453068 2365015 3186676 A physical inventory taken on December 31, 20x9, resulted in an ending inventory of $345363. Burt's gross profit on sales has remained constant at 24% in recent years. Burt suspects some inventory may have been taken by a new employee. At December 31, 20x9, what is the estimated cost of the missing inventory? Note that a negative number means that there is more inventory on hand than was anticipated. NOW WA Select one: a. $-99154 TO b. $50846 c. S-24154 O d. $100846
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