Bandy’s Barbeque recorded the following financial results:     Fiscal year 2020 Fiscal year 2019 Cash $ 1,200   $ 900   Accounts receivable   6,140     5,890   Inventory   7,850     7,770   Accounts payable   9,490     8,750   Sales   229,650     215,871   Cost of goods sold $ 133,200   $ 120,888     What was the company’s inventory period?

presented below is information related to Ayayai industries for the month of january 2020. Ending Inventory per ; 1. perpetual records €24.710 Ending inventory actually; 1. on hand 23.910 2. cost of goods sold 213.050 3. freight out 7.270 4. insurance expenses €11.820 5. rent expenses 22.450 6. salaries and wages expense 55.490 7. sales discounts 13.080 8. sales returns and allowances 15.060 9. sales revenue 401.870 prepare the necessary adjusting entry for inventory.

Compute the inventory turnover ratio based on the following data: Sales revenue                 $275,000 Cost of goods sold            168,000 Beginning inventory            35,000 Ending inventory                 45,000

This information is available for Monty Inc. for 2021 and 2022. (in millions) Beginning inventory Ending inventory Cost of goods sold Sales Days in inventory 2021 2022 $2.540 2,971 24,351 23,097 43,483 42,105 Inventory tumover ratio Gross profit rate $2,163 Calculate the inventory turnover, days in inventory, and gross profit rate for Monty Inc. for 2021 and 2022. (Round gross profit rate to 2 decimal places, e.g. 0.25 and all other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) 2,540 2021 26 140.4 44 times days 2022 21 1738 45.14 times days

The records of Earthly Goods provided the following Information for the year ended December 31, 2020. At Cost At Retail $ 521, 350 $ 977,150 6,448, 700 129, 350 5,595, 700 January 1 beginning inventory Purchases 4,138, 245 Purchase returns 62, 800 Sales Sales returns 49, 600 Requlred: 1. Prepare an estimate of the company's year-end Inventory by the retall method. (Round all calculations to two decimal places.) EARTHLY GOODS Estimated Inventory December 31, 2020 At Cost At Retail Goods available for sale: Goods available for sale Cost to retail ratio Estimated ending inventory at cost

Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August. Merchandise inventory, August 1 $ 97,070 Merchandise inventory, August 31 102,680 Purchases 254,100 Purchases returns and allowances 12,310 Purchases discounts 5,360 Freight in 3,120 $

Presented below is selected information related to Blue Co. for the month of January 2022. Ending inventory per Insurance expense $11,560 perpetual records $23,710 Rent expense 20,350 Ending inventory actually Salaries and wages expense 57,710 on hand 22,910 Sales discounts 11.620 Cost of goods sold 217,820 Sales returns and allowances 14.730 Freight-out 7,070 Sales revenue 403,550 (a) Prepare the necessary adjusting entry for inventory. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit eTextbook and Media Assistance Used List of Accounts

A company uses a periodic inventory system.  The beginning inventory was $20,000, purchases amounted to $110,000, sales totaled $215,000, and the year-end inventory was $25,000.  The cost of goods sold must have been: a                      $100,000. b                      $105,000 c                      $110,000. d                      some other amount.

Cost of Goods Sold and the Periodic System Kanzu Company uses the periodic inventory system. Kanzu started the period with $10,000 in inventory. The Company purchased an additional $25,000 of merchandise, and returned $1,000 for a full credit. A physical count of inventory at the end of the period revealed that there was an ending inventory balance of $8,000 What was Kanzu's cost of goods sold during the period?

Inventory at the beginning of the year cost $13,900. During the year, the company purchased (on account) inventory costing $86,500. Inventory that had cost $82,500 was sold on account for $97,000. Required: a. Calculate the amount of ending inventory. b. What was the amount of gross profit? c. Prepare journal entry to record sale of inventory assuming a perpetual system is used. Debit Credit Account