FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Required: Determine the missing numbers. Note: Enter all amounts as positive numbers. Enter your answers in thousands. Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) Purchase discounts Purchase returns Freight-in 2024 $ $ $ $ $ $ $ $ 69 2025 290 $ 279 672 $ 636 279 $ 210 951 $ 915 664 30 45 $ 69 SS 705 $ 2026 $ 210 $ 656 $ 189 $ 845 $ 660 33 $ 39 $ 28 $ 47 S5 $ 29 31
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Transcribed Image Text:A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Required: Determine the missing numbers. Note: Enter all amounts as positive numbers. Enter your answers in thousands. Beginning inventory Cost of goods sold Ending inventory Cost of goods available for sale Purchases (gross) Purchase discounts Purchase returns Freight-in 2024 $ $ $ $ $ $ $ $ 69 2025 290 $ 279 672 $ 636 279 $ 210 951 $ 915 664 30 45 $ 69 SS 705 $ 2026 $ 210 $ 656 $ 189 $ 845 $ 660 33 $ 39 $ 28 $ 47 S5 $ 29 31
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Step 2: Calculation of missing data for 2024 :
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Step 3: Calculation of missing data for 2025 :
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Step 4: Calculation of missing data for 2026 :
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