Paco Ltd had the following for the year ended 2020: Ending inventory =$400,00 Opening inventory =$ 41,500 Sales revenue = 114,000 Purchases=77,000 Purchase discounts=7,000 Purchase returns and allowances=5,800 The company has the policy ofusing periodic method. Calculate cost of sales for the year.

Paco Ltd had the following for the year ended 2020: Ending inventory =$400,00 Opening inventory =$ 41,500 Sales revenue = 114,000 Purchases=77,000 Purchase discounts=7,000 Purchase returns and allowances=5,800 The company has the policy ofusing periodic method. Calculate cost of sales for the year.

Name: Paco Ltd had the following for the year ended 2020:Ending inventory =$
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Description: Paco Ltd had the following for the year ended 2020:Ending inventory =$400,00Opening inventory =$ 41,500Sales revenue = 114,000Purchases=77,000Purchase discounts=7,000Purchase returns and allowances=5,800The company has the policy ofusing periodic met

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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