1. lf a company sells goods that cost $80,000 for $92.000, the firm will: A reduce Finished-Goods Inventory by S80,000. B. reduce Finished-Goods Inventory by S92.000. C report sales revenue on the balance sheet of $92.000. D. reduce Cost of Goods Sold by $80,000. E follow more than one of the above procedures.

Q: A firm had beginning finished goods inventory of 20,000; its cost of goods manufactured was 75,000;…

A: Cost of goods sold = sales - gross margin = 140000 - 80000 = 60,000

Q: A company has 19 days of finished goods inventory on hand to avoid stockouts. The carrying costs of…

A: The value added costs are the additional costs incurred to increase the value of the product to the…

Q: 2. If a company sells goods that cost P70,000 for P82,000, the firm will: a. reduce Finished-Goods…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: (b) An manufacturer produce a goods and sold all goods to a whole seller by adding 10% profit. The…

A: A Value-added tax may be defined as that type of tax which is charged upon the goods and services…

Q: If a company sells goods that cost $80,000 for $92.000, the firm will: A. reduce Finished-Goods…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: 44. Oman Gulf Company SAOC shows some of the financial information in their annual report. Sales: RO…

A: Net Profit Margin Ratio: It is the financial ratio calculated by dividing total revenue by total…

Q: FDN Company sold goods to a customer with terms 3/10, 2/20 n/30, FOB Shipping Point amounting to…

A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to…

Q: The opening and closing inventories of a manufacturing business are GH₵ 22,000 and GH₵ 36,000…

A: Unrealized profits are the excess amount charged on the cost of goods. It is calculated on the…

Q: e following applied to Kate Company for the current year: Merchandise purchased for resale…

A: Solution: Inventoriable cost = Merchandise purchased + Freight in - Purchase return = 5000000 +…

Q: Gatekeeper Company has two products with cost and selling prices as follows: Product X Product Y…

A: The following computations are done for Gatekeeper company.

Q: X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: If the net sales 159 150 ID , beginning -1 finished goods inventory 16 500 ID „Cost of goods…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: For the goods purchased by the business, the Availability of Goods at the Beginning of the Period is…

A: Cost of goods sold means actual cost of goods that are being sold to the customers.

Q: If Sales revenue is SR 26,000, beginning finished goods inventory is SR 8,000, ending finished goods…

A: Cost of goods sold = Cost of goods manufactured + Beginning finished goods inventory - Ending…

Q: If the beginning finished goods -9 inventory 90 00O ID, ending finished goods inventory 65 000 ID,…

A: Cost of goods sold:-It is the cost of producing goods which involve all direct cost whether fixed or…

Q: If Sales revenue is SR 26,000, beginning finished goods inventory is SR 8,000, ending finished goods…

A: Cost of goods sold: All the expenses that are incurred in making a product are called Cost of Goods…

Q: A company had £270,000 in sales; £150,000 in goods available for sale; ending finished goods…

A: The Beginning inventory can be calculated by adding up ending inventory and deducting net purchase…

Q: For each of the following, determine the missing amounts. Net Sales   Cost of Goods Sold   Gross…

A: Gross Profit is determined after operating expenses from Net Sales Gross Profit can also be…

Q: Calculate the value of cost of goods sold for Benson's Brewing Company given the following…

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Q: X Company had $80,000 of ending finished goods inventory, beginning finished goods inventory was…

A: Cost of goods manufactured = Cost of goods sold + Ending inventory - Beginning inventory

Q: evenue for the year amounted to R4 500 000 and represents net sales to third parties of goods…

A: Gross profit = Net sales x Gross profit rate = R4,500,000 x 40% = R1,800,000

Q: Given the following information calculate: Value B. gross cost of merch sold: Cost Retail $80,000.00…

A: Cost of Goods Sold: The term "cost of goods sold" (COGS) refers to the direct expenses incurred by a…

Q: Consider the following data: Sales -- P 100,000; Gross Profit rate based on sales -- 30%; Goods…

A: Ending Finished goods =  Goods Available for Sale - Cost of goods sold where, Cost of goods sold =…

Q: Financial information is presented below: Operating expenses $ 40,000 Sales revenue 200,000 Cost of…

A: Gross Profit: Difference between the sales and the cost of goods sold is called Gross Profit.

Q: Given: The Company showed a net loss of P140,600 with Cost of Goods Sold of P546,900 which is 60% of…

A: Formulas: Total expenses = Net Loss + Gross profit where, Gross profit = Sales - Cost of goods sold

Q: As a costing team member, calculate the gross profit if: Sales P6,000; Cost of Sales P5,000;…

A: Gross profit = Sales - COGS  Cost of sale = Selling and distribution o/h+ COGS in this given…

Q: The following is the year ended data for Baker​ Company:   Sales Revenue $156,000 Cost of Goods…

A: Cost of goods available for​ sale: The cost of goods available for sale is the total cost incurred…

Q: The Cost of Goods Manufactured of Silver Corporation is P5,600,000. If the ending finished goods…

A: The cost of goods sold includes the cost of goods that are sold during the period.

Q: Q-3 Following is the income Statement of Naeem Manufacturing Co. for the year ended Dec 31, 2007.…

A: Gross profit means the difference between the sale revenue and cost of production. Cost of goods…

Q: A firm had 200,000 in sales; 120,000 in goods available for sale; ending finished goods inventory of…

A: Solution: Cost of good sold = goods available for sale - ensing Finished goods inventory  = 120000 -…

Q: At the various activity levels shown, Harper Company incurred the following costs: Units sold 20 40…

A: Variable cost per unit is constant. Variable cost will be change as same proportionate the change in…

Q: Assume the following information for Fruitful Proprietary Limited. for the year ended December 31,…

A: The main objective of a business or a company is to earn profits and incomes and this is done by the…

Q: AJXKXJ923 Corp. is a merchandiser with a single product. Corp.'s accountants have provided the…

A: Cost of goods sold per unit = (Highest activity cost - Lowest activity cost) / (Highest activity…

Q: Metlock Company is a multiproduct firm. Presented below is information concerning one of its…

A: The inventory can be valued using various methods as LIFO, FIFO and average method.

Q: Tenggiri Bhd (TB) began business at the start of the current year and maintains its accounting…

A: Given that, Tenggiri Bhd started business in the current year. There is no beginning finished goods…

Q: The following is the year ended data for Tiger​ Company:   Sales Revenue $56,000 Cost of Goods…

A: Cost of Goods sold = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending…

Q: On June 1, Entity A sold Product XX2 for P50,000 with a cost price of P30,000. Credit terms is 2/10,…

A: Gross profit seems to be the profit a company generates after deducting all costs associated with…

Q: The gross profit margin of WALA company is 40%. If the gross profit is ₱332,560.00, how much is the…

A: Gross profit margin =40% Gross profit =P332,560 Therefore, Revenue =Gross profit/gross profit margin…

Q: (Assume that selling and administrative expenses are associated with goods sold.) Levine sells its…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Buzz Ltd has Sales figure of £8,200, opening Inventory of £1,300, closing inventory £900, purchases…

A: Cost of goods sold is the total cost incurred to produce goods during the particular year. It is…

Q: May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory…

A: Solution..   Ending finished goods inventory = P40,000  Beginning Finished goods inventory = P55,000…

Q: If the net sales 159 150 ID , -1 beginning finished goods inventory 16 500 ID ,Cost of goods…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: Selling price 2,000,000 3,000,000 Materials and conversion costs 1,500,000 1,800,000 General…

A: If the individual approach is taken the NRV of both the products will be calculated separately and…

Q: The following is the year ended data for Tiger​ Company:   Sales Revenue $58,000 Cost of Goods…

A: Cost of Goods sold = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending…

Q: 1. A business operate based on a mark-up cost of 40%. If the opening and closing inventories were Gh…

A: As posted multiple questions we are answering only one question kindly repost the unanswered…

Q: The Lion Company's cost of goods manufactured was P120,000 when its sales were- P 360,000 and its…

A: Finished goods are the goods that have been fully manufactured and are ready for sale. The finished…