The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data have been intentionally omitted. ($ in thousands) 2016 2017 2018 Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) 225 ? 627 621 225 ? 216 876 800 630 585 Purchase discounts 18 15 14 Purchase returns 30 24 Freight-in 13 32 16 Required: Determine the missing numbers. Show computations where appropriate.
The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data have been intentionally omitted. ($ in thousands) 2016 2017 2018 Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) 225 ? 627 621 225 ? 216 876 800 630 585 Purchase discounts 18 15 14 Purchase returns 30 24 Freight-in 13 32 16 Required: Determine the missing numbers. Show computations where appropriate.
Chapter10: Inventory
Section: Chapter Questions
Problem 13PB: Company Edgar reported the following cost of goods sold but later realized that an error had been...
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