FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Inventory Accounting
Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.
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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 Answer is not complete. 2024 2025 $ 272 S 678 $ 283 $ 961 $ 715 $ 35 15 35 41 30 $ $ $ 638 $ 220 $ 858 $32 47 $ 49 $ 2026 $ 220 $ 193 $ 851 $ 670 $31 $ 33
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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 Answer is not complete. 2024 2025 $ 272 S 678 $ 283 $ 961 $ 715 $ 35 15 35 41 30 $ $ $ 638 $ 220 $ 858 $32 47 $ 49 $ 2026 $ 220 $ 193 $ 851 $ 670 $31 $ 33
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