Caro Corporation has provided the following information for its most recent month of operations: Sales $23,000 Ending inventory $4,600 Purchases Gross profit $8,300 $12,000 How much was Carp's beginning inventory?

Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of 250,000. During the year, it made 613,000 of net purchases. At the end of the year, a physical inventory showed it had ending inventory of 140,000. Calculate Reid Companys cost of goods sold for the year.

Assume your company uses the periodic inventory costing method, and the inventory count left out an entire warehouse of goods that were in stock at the end of the year, with a cost value of $222,000. How will this affect your net income in the current year? How will it affect next years net income?

Carr Corporation has provided the following information for its most recent month of operation: sales $8,300; beginning inventory $1,150; ending inventory $2,150 and gross profit $5,450. How much were Carr's inventory purchases during the period? Multiple Choice O $9,450. $5,450. $3,850. $6,150.

Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $95,000; beginning inventory of $9,500 and purchases of $66,500. What is the estimated amount of ending inventory at the end of the period? Multiple Choice ο ο ο ο $30,400 $57,000 $38,000 $19,000

Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $60,000; beginning inventory of $6,000 and purchases of $42,000. What is the estimated amount of ending inventory at the end of the period? Multiple Choice O O O $19,200 $36,000 $12,000 $24,000

The 200X records of Thompson Company showed a beginning inventory of $6,000, cost of goods sold of $14,000, and ending inventory of $8,000. The cost of purchases for 200X was:$12,000$10,000$ 9,000$16,000 Question 2Post Company began the current month with $10,000 in inventory, then purchased inventory at a cost of $35,000. The inventory at the end of the month was $20,000. The cost of goods sold would be:$30,000$35,000$15,000$25,000 Question 3Following is the inventory activity for July:Beginning Balance 10 sweaters @ $12 each1-JulPurchased 5 sweaters at $14 each8-JulPurchased 8 sweaters at $17 each17-JulPurchased 6 sweaters at $20 each24-JulSold 12 sweaters for $30 eachWhat is the ending inventory $ amount using the FIFO method?$298$224$261 Question 4Following is the inventory activity for July: Beginning Balance 10 sweaters @ $12 each1-JulPurchased 5 sweaters at $14 each8-JulPurchased 8 sweaters at $17 each17-JulPurchased 6 sweaters at $20 each24-JulSold 12 sweaters for $30 each what…

The following data are taken from the financial statements:   Current Year Preceding Year Sales $3,600,000     $4,000,000                 Cost of goods sold 2,000,000     2,700,000                 Beginning inventory 372,000     352,000                 Inventory, end of year 390,000     372,000                 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. 1. The inventory turnover: (If required, round your answers to one decimal place.) Current Yearfill in the blank 1 Preceding Yearfill in the blank 2 2. The number of days' sales in inventory: Assume a 365-day year. (Round your intermediate calculation to whole number and final answers to two decimal places.) Current Yearfill in the blank 3 days Preceding Yearfill in the blank 4 days b. Comment on the favorable and unfavorable trends revealed by the data. Sales (decreased/increased) while gross profit (decreased/increased). The inventory turnover (declined/rose) and…

Blue Company has the following data for the year. Beginning inventory Net sales revenue $100,000 Net purchases $320,000 Normal gross profit rate $140,000 40% What is the estimated ending inventory? (Round your final answer to the nearest dollar.) O A. $240,000 O B. $192,000 O C. $112,000 O D. $48,000

The following data are taken from the financial statements: Current Year Preceding Year Sales $3,600,000 $4,000,000 Cost of goods sold 2,000,000 2,700,000 Beginning inventory 372,000 352,000 Inventory, end of year 390,000 372,000 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. 1. The inventory turnover: (1f required, round your answers to one decimal place.) Current Year Preceding Year 2. The number of days' sales in inventory: Assume a 365-day year. (Round your intermediate calculation to whole number and final answers to two decimal places.) Current Year days Preceding Year days b. Comment on the favorable and unfavorable trends revealed by the data. v and the number of days' sales in inventory which are unfavorable trends Sales while gross profit The inventory turnover