he following accounts and balances are taken from the books of Bosox Company which                           uses the periodic inventory system.                                             Note: Enter all amounts as positive amounts                         a.       Sales     $470,000                 Sales returns and allowances     15,000                 Sales discounts     2,500                 Purchases     255,000                 Purchases returns and allowances     18,000                 Purchases discounts     5,000                 Transportation-In     1,500                 Operating expenses     125,000                                     b.       Beginning inventory     $40,000                 Ending inventory     35,000                                         a. Calculate the cost of good sold                       b. Calculate the gross profit                       c. Calculate the net income                                           c.

Suppose that Ivanhoe uses a periodic inventory system and has these account balances: Purchases $571,000; Purchase Returns and Allowances $11,800; Purchases Discounts $9,100; and Freight-In $14,300. Determine net purchases and cost of goods purchased. Net purchases tA Cost of goods purchased $

Journalize the following merchandise transactions. The company uses the perpetual inventory system. a. Sold merchandise on account, $14,900 with terms 2/10, net 30. The cost of the goods sold was $9,685. If an amount box does not require an entry, leave it blank. b. Received payment within the discount period. If an amount box does not require an entry, leave it blank.

The following accounts and balances are taken from the books of Bosox Company which             uses the periodic inventory system.                                         Sales     $470,000       Sales returns and allowances     15,000       Sales discounts     2,500       Purchases     255,000       Purchases returns and allowances     18,000       Purchases discounts     5,000       Transportation-In     1,500       Operating expenses     125,000                     Beginning inventory     $40,000       Ending inventory     35,000                     a. Calculate the cost of good sold             b. Calculate the gross profit             c. Calculate the net income

A company reported the following balances in some selected accounts: Inventory, 1 March $4,000, Transportation-in $200, Inventory, 31 March $6,000, Purchases $16,000, Purchase Returns and Allowances $500, Purchase discounts $700, Sales $35,000, Sales discounts $1,500.   The Cost of Goods Sold for the period is:   Group of answer choices $13,000 $16,000 $12,600 $13,400

2. Assume that Breakthrough Company uses a periodic inventory system and has these account balances: Freight-In $19,000; Purchase Discounts $11,000; Net Sales of $750,000; inventory,4/1 of $45,000; Operating Expenses $39,500; Purchase Returns and Allowances $25,000; Freight-Out $ 24,000; inventory,4/30 of $55,000; and Purchases $630,000. Required: Using the appropriate account titles and subtotals prepare in proper format the detailed cost of goods sold section for the month ended Aoril 30, 2021

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Seiz Company used perpetual inventory system to record inventory transactions for 2021. Inventory                           P 1,900,000 Sales                                      6,500,000 Sales returns                           150,000 Cost of goods sold              4,600,000 Inventory losses                     120,000 On December 24, the entity recorded a P 150,000 credit sales of goods costing  P 100,000. These goods were sold on FOB destination point terms and were in transit on December 31.  The goods were included in the physical count.  The inventory on December 31 determined by physical count has a cost of P 2,000,000 and a net realizable value of P 1,700,000.  Any inventory writedown is not yet recorded. What amount should be reported as Cost of Goods Sold for 2020? a. 5,020,000 b. 4,500,000 c. 4,720,000 d. 4,920,000

Current Attempt in Progress Prepare the necessary journal entries to record the following transactions, assuming Cullumber Company uses a perpetual inventory system. (a) Cullumber sells $57,500 of merchandise, terms 1/10, n/30. The merchandise cost $39,220. (b) The customer in (a) returned $5,300 of merchandise to Cullumber. The merchandise returned cost $3,710. (c) Cullumber received the balance due within the discount period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Transactions Account Titles and Explanation (a) (To record credit sale.) (To record cost of goods sold.) Debit Credit SU