The Lakandula Company's Cost of Goods Manufactured was P240,000. Its total sales amounted to P720,000 and Gross Profit was P440,000. If the ending inventory of Finished Goods was P60,000, how much is beginning inventory of Finished Goods?

Q: Last year, the gross billings for merchandise made by ABC Company amounted to P15,720,000, purchase…

A: Solution: Net Cost of purchase = Purchases - Purchase return and allowances - purchase discount +…

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: Given that the cost of goods completed was $57 000, sales $80 000, finished goods at start $3 200…

A: Gross profit = Sales - (Beginning finished goods + cost of goods completed - Ending finished goods)…

Q: For the first three months of the year 2009, Lualhati Company reported total sales of P1,400,000 and…

A: The cost of goods manufactured can be calculated from the cost of goods sold function

Q: If the cost of goods sold is $100,000 and the ending finished goods inventory is$30,000 higher than…

A: Cost of goods manufactured: Cost of goods manufactured means total manufacturing costs; including…

Q: Assuming that net purchases was P900,000 during the year and that ending merchandise inventory was…

A: Ending inventory = beginning inventory - decrease in inventory = P250000 - P20000 = P230,000

Q: The balance of work in process inventory account as of December 31, of the current year of Purewood…

A: Cost of inventory = P480,000 Selling price = P450,000 Completion cost = P10,000 Cost to sell =…

Q: JKL Company’s sales are $1,000,000 and the Cost of Sales is $400,000 The beginning and ending…

A: Formula: Inventory turnover ratio = ( Cost of sales / Average inventories ) x 100 Average inventory…

Q: Muscat Company has OMR 20,000 of ending finished goods inventory as of December 31, 2019. If…

A: Cost of goods sold means the cost incurred on the manufacturing or purchase of goods which has been…

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: The following data are obtained from Gianne Manufacturing Company: Cost of goods manufactured is…

A: Cost of goods manufactured: Cost of goods manufactured shows the total costs incurred for…

Q: Given: The Company showed Cost of Goods Sold amounting to P440,000 and its gross profit rate is 45%.…

A: Gross profit ratio is a profitability ratio that calculates the percentage of sales that exceed the…

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: Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending…

A: We have the following information: Beginning Finished Goods Inventory: $70,000 Ending Finished…

Q: The accounting records for 2022 of Natural Co. showed the following: Increase in raw materials…

A: Cost of Goods Sold=Cost of goods manufactured+Decrease in finished goods inventory

Q: During the current year, merchandise is sold for $615,000 cash and $4,110,000 on account. The cost…

A: Gross profit can be defined as the excess of net sales revenue over the cost of goods sold. Gross…

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: The following are data regarding Sunny Company in 2021 - Finished Goods Inventory December 31…

A: “Since you have posted a many questions, we will solve first question for you. To get the remaining…

Q: Tee company had a $20,000 beginning inventory and $24,000 ending inventory. Net sales were $160,000;…

A: Cost of goods sold = Beginning inventory + Net purchases + Freight in - Ending inventory

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: The following data are obtained from Glendale Sompany for a given period: Cost of goods…

A: Total manufacturing cost=Cost of goods manufactured+Ending work in process=P 187,500+P 12,500=P…

Q: Refer to the above, how much would the company report for cost of goods manufactured? * $796,000 O…

A: Cost of goods manufactured = Materials consumed + Direct labour + Manufacturing overhead + Beginning…

Q: Compute the Cost of Goods Sold for 2020 of Pillows Company considering the following information:…

A: Net Raw materials purchased = Raw materials purchased -  Purchase returns  -  Purchase discount =…

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

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: If a firm's inventories on hand are $200,000, its cost of goods sold is $600,000, and its sales are…

A: Given data: Cost of goods sold = $600,000 Inventory = $200,000

Q: Vera Ltd had beginning finished goods inventory of £35,000; its cost of goods manufactured was…

A: Cost of goods sold = Sales - Gross profit  Cost of goods sold = 150,000 - 22,000 Cost of goods sold…

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: Winner Company has two products with cost and selling price as follows:…

A: Solution Concept Under lower of cost or NRV method , The inventory is valued at lower of the cost or…

Q: Royal Crown Corp. has the following information to an inventory: Materials -P800,000; Storage cost…

A: Note: Delivery to customers charges will not be included in the inventory cost. These expense are…

Q: Hiligaynon Company provided the following information for the current year: Beginning inventory of…

A: Solution Cost of good sold is the cost which a business incur to sales a product.

Q: The following data are given by Domestic Mfg. Corp: increase in finished goods inventory - P 12,000;…

A: A cost sheet is a method of allocating total cost into different categories such as direct material…

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

A: Solution..   Cost of goods manufactured = P120,000  Beginning finished goods inventory = P55,000…

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: If a firm's beginning inventory is $35,000, goods purchased during the period cost $130,000, and the…

A: Cost of goods sold is calculated by adding the beginning inventory and purchases and deducting the…

Q: Boron Company has sales of $60,000, beginning inventory of $7.000, purchases of $35,000, and ending…

A: Cost of goods sold in the business means total cost of goods that are being sold to the ultimate…

Q: Alexandria Company provided the following data for the current year: Inventory end of the fiscal…

A: Cost of Goods Manufactured is a schedule or statement which shows the total production costs of…

Q: The accounting records for 2022 of Natural Co. showed the following:  Increase in raw materials…

A: Cost of goods manufactured is one of the important calculation done in cost accounting. It includes…

Q: Nizwa Company had the cost of goods sold of $ 160,000 and inventory balance was $23,000. What is the…

A: Inventory turnover ratio = cost of goods sold / average inventory

Q: The following information is available for Naab Company for 2020 The cost of goods sold is equal to…

A:

Q: Swifty Corporation has $18000 of ending finished goods inventory as of December 31, 2019. If…

A: Cost of goods manufactured is the total cost incurred to produce the products and transfer them into…

Q: inventory

A: Produced units = 18500 Beginning inventory = ( $5159 total unit cost /$6.70 per unit cost ) = 770…

Q: During the current year, merchandise is sold for $135,800 cash and $406,300 on account. The cost of…

A: Gross profit is considered as the difference between total sale and cost of goods sold.In simple…

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: According to the information given in the table below, which of the following is Cost of Goods Sold?…

A: The financial position of the company can be arrived from the income statement prepared by the…

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…

Q: Given: The Company showed Cost of Goods Sold amounting to P645,750 and its gross profit rate is 40%.…

A: Calculation of Total Sales Revenue Total Sales Revenue = Cost of goods sold/ (100% - Gross Profit…