### Cost of Goods Sold Calculation for Companies B, M, O, and SBelow is a series of cost of goods sold sections for companies B, M, O, and S. Fill in the lettered blanks to complete the cost of goods sold sections.| | B | M | O | S ||--------------------|----------|---------|---------|---------|| Beginning inventory| $305 | $146 | $854 | $(j) || Purchases | 1,830 | 1,318 | $(g) | 53,180 || Purchase returns and allowances | 98 | $(d) | 354 | $(k) || Net purchases | $(a) | 1,269 | 9,040 | 51,594 || Freight-in | 159 | $(e) | $(h) | 2,733 || Cost of goods purchased | $(b) | 1,501 | 9,821 | $(l) || Cost of goods available for sale | 2,196 | 1,647 | $(i) | 60,427 || Ending inventory | 378 | $(f) | 1,403 | 7,601 || Cost of goods sold | $(c) | 1,501 | 9,272 | 52,826 |**Explanation of the Grid Layout:**- **Columns**: Each column represents a different company (B, M, O, and S).- **Rows**: Each row categorizes a different aspect of the cost of goods sold calculation: - Beginning Inventory - Purchases - Purchase Returns and Allowances - Net Purchases (Purchases - Purchase Returns and Allowances) - Freight-in - Cost of Goods Purchased (Net Purchases + Freight-in) - Cost of Goods Available for Sale (Beginning Inventory + Cost of Goods Purchased) - Ending Inventory - Cost of Goods Sold (Cost of Goods Available for Sale - Ending Inventory)### Graphical/Diagram Explanation:There are no graphs or diagrams included in this content. The worksheet provided is a table structured to allow the reader to fill in specific blanks designated by letters (a), (b), (c), etc., to

The cost of the goods sold is also referred to as COGS, it is the cost of manufacturing or producing…

Below is a series of cost of goods sold sections for companies B. M. O, and S. Fill in the lettered blanks to complete the cost of goods sold sections. Beginning inventory Purchases Purchase returns and allowances Net purchases Freight-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold B $305 1,830 98 159 2,196 378 (a) (b) (c) M $146 1.318 1,269 1,501 1.647 1.501 (d) (e) (f) $854 354 9,040 9,821 1,403 9,272 (g) (h) (i) S 53,180 51,594 2,733 60,427 7,601 52,826 (1) (k) (1)

Below is a series of cost of goods sold sections for companies B. M. O, and S. Fill in the lettered blanks to complete the cost of goods sold sections. Beginning inventory Purchases Purchase returns and allowances Net purchases Freight-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold B $305 1,830 98 159 2,196 378 (a) (b) (c) M $146 1.318 1,269 1,501 1.647 1.501 (d) (e) (f) $854 354 9,040 9,821 1,403 9,272 (g) (h) (i) S 53,180 51,594 2,733 60,427 7,601 52,826 (1) (k) (1)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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