Dunnsmore Company reported cost of goods sold of $318,450 on its 20X1 income statement. Other information for Dunnsmore is as follows: Inventories Accounts payable Cost of goods sold Add: Increase in inventory 1/1/20X1 $ 37,200 23,100 Required: Prepare a schedule showing the amount of cash Dunnsmore paid to suppliers in 20X1. 12/31/20X1 $ 43,400 29,900 Inventory purchases Less: Increase in accounts payable Cash paid to suppliers Answer is not complete. $ 318,450 6,200 (6,800) $ 317,850

Jake Thomas Corporation uses the conventional retail method for financial reporting. The​ company's inventory records are summarized below.  Description Cost Retail Beginning inventory $31,800 $53,000 Purchases 127,540 197,900 Additional markups   9,600 Markup cancellations   3,500 Markdowns   5,100 Markdown cancellations   4,000 Sales   230,000   Complete the partial table below to determine the​ cost-to-retail ratio. In the following​ step, complete the table by selecting the labels and entering the amounts needed to estimate Jake Thomas​' ending inventory using the conventional retail method.​ (If an input field is not used in the​ table, leave the input field​ empty; do not enter a zero. Round the​ cost-to-retail ratio to two decimal​ places, X.XX%. Round all currency amounts to the nearest whole​ dollar.)           Cost-to-Retail Description Cost Retail Ratio…

Richard Company's financial records report beginning inventory of $543,000; ending inventory of $699,000; and cost of goods sold of $1,387,000. What is the amount of purchases? Group of answer choices $1,543,000 $1,242,000 $844,000 $2,086,000

Bioware Company reports cost of goods sold of $42,200. Its comparative balance sheet shows that inventory decreased $7,200 and accounts payable increased $5,200. Compute cash payments to suppliers using the direct method. Cash Payments to Suppliers (Direct) Cash paid for inventory

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. Ebasan Company used the average cost retail inventory method. The entity provided the following information for the current year: Cost Retail 1,500,000 2,200,000 Beginning inventory Net purchases 3,875,000 4,950,000 Departmental transfer -credit 200,000 300,000 Net markup 150,000 Inventory shortage at sales price 100,000 Employee discounts 200,000 Sales, including sales of P400,000 of items which were marked down from P500,000 4,000,000 What amount should Ebasan report as cost of ending inventory? 61.950.000

Masthead Company's comparative balance sheets included an inventory of $180,400 at December 31, 2009, and $241,200 at December 31, 2010. Masthead's comparative balance sheets also included accounts payable of $85,400 at December 31, 2009, and $78,400 at December 31, 2010. Masthead's accounts payable balances are composed solely of amounts due to suppliers for purchases of inventory on account. Cost of goods sold, as reported by Masthead on its 2010 income statement, amounted to $1,200,000. What is the amount of cash payments for inventory that Masthead will report in the Operating Activities category of its 2010 statement of cash flows assuming that the direct method is used?

Cost of Goods Sold Section, Multiple-Step Income Statement Based on the information that follows, prepare the cost of goods sold section of a multiple-step income statement. Merchandise Inventory, January 1, 20-- $36,000 Estimated Returns Inventory, January 1, 20-- 3,000 Purchases 102,000 Purchases Returns and Allowances 4,200 Purchases Discounts 2,040 Freight-In 800 Merchandise Inventory, December 31, 20-- 30,500 Estimated Returns Inventory, December 31, 20-- 2,500

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Metlock's Market recorded the following events involving a recent purchase of inventory: Received goods for $78200, terms 2/9, n/30. Returned $1700 of the shipment for credit. Paid $700 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $74970. increased by $75670. increased by $77200. O increased by $75656. O O