a corporation had beginning inventory of $125,000, ending inventory of $112,000, and net purchases of $95,000. what is the cost of merchandise sold?
a corporation had beginning inventory of $125,000, ending inventory of $112,000, and net purchases of $95,000. what is the cost of merchandise sold?
Don't know that much about "Advanced Accounting", but:
If the Corp. had an inventory of $125,000 and net purchases of $95,000, then overall total would be:
$125,000 + $95,000=$220,000. But they ended with an inventory of $112,000, therefore:
$220,000 - $112,000=$108,000 cost of the mechasdise sold.
a corporation had beginning inventory of $125,000, ending inventory of $112,000, and net purchases of $95,000. what is the cost of merchandise sold?
Don't know that much about "Advanced Accounting", but:
If the Corp. had an inventory of $125,000 and net purchases of $95,000, then overall total would be:
$125,000 + $95,000=$220,000. But they ended with an inventory of $112,000, therefore:
$220,000 - $112,000=$108,000 cost of the mechasdise sold.
