During the fiscal year 20x4, the initial inventory of the goods of company A is 15.000 €, purchases of goods for the fiscal year 25.000,00 € and the final stock of goods 10.000,00 €. The revenue from the sales of goods is 75.000,00 €, the operating expenses 30.000,00 € and the tax rate is 40%. An employee of the accounting department registered as the final stock of goods the amount of 12.000 €. What is the effect on the cost of sales during the use of 20X4?

Cost of sales = Beginning inventory + Purchases - Closing inventory

Answered: During the fiscal year 20x4, the…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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During the fiscal year 20x4, the initial inventory of the goods of company A is 15.000 €, purchases of goods for the fiscal year 25.000,00 € and the final stock of goods 10.000,00 €. The revenue from the sales of goods is 75.000,00 €, the operating expenses 30.000,00 € and the tax rate is 40%. An employee of the accounting department registered as the final stock of goods the amount of 12.000 €. What is the effect on the cost of sales during the use of 20X4?

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