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E 8-5 Inventory transactions; missing data • LO8-1 A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Beginning inventory Cost of goods sold 2024 2025 2026 $ 7 $ ? $225 Ending inventory སྐྱི་ 627 621 ? 225 216 Cost of goods available for 876 ? 800 sale Purchases (gross) 630 ? 585 Purchase discounts 18 15 ? Purchase returns 24 30 14 Freight-in 13 32 16 Required: Determine the missing numbers. Show computations where appropriate.

E 8-5 Inventory transactions; missing data • LO8-1 A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Beginning inventory Cost of goods sold 2024 2025 2026 $ 7 $ ? $225 Ending inventory སྐྱི་ 627 621 ? 225 216 Cost of goods available for 876 ? 800 sale Purchases (gross) 630 ? 585 Purchase discounts 18 15 ? Purchase returns 24 30 14 Freight-in 13 32 16 Required: Determine the missing numbers. Show computations where appropriate.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 17MCQ: ( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory...
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E 8-5 Inventory transactions; missing data • LO8-1 A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Beginning inventory Cost of goods sold 2024 2025 2026 $ 7 $ ? $225 Ending inventory སྐྱི་ 627 621 ? 225 216 Cost of goods available for 876 ? 800 sale Purchases (gross) 630 ? 585 Purchase discounts 18 15 ? Purchase returns 24 30 14 Freight-in 13 32 16 Required: Determine the missing numbers. Show computations where appropriate.
Transcribed Image Text:E 8-5 Inventory transactions; missing data • LO8-1 A company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). Beginning inventory Cost of goods sold 2024 2025 2026 $ 7 $ ? $225 Ending inventory སྐྱི་ 627 621 ? 225 216 Cost of goods available for 876 ? 800 sale Purchases (gross) 630 ? 585 Purchase discounts 18 15 ? Purchase returns 24 30 14 Freight-in 13 32 16 Required: Determine the missing numbers. Show computations where appropriate.
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