The following information is available for Grace Company for 2020:  Disbursements for purchases P1,050,000;  Increase in trade accounts payable 75,000;  Decrease in merchandise inventory 30,000;  Costs of goods sold for 2010 was   P1,155,000. P1,095,000. P945,000.

The following information is available for NomerCompany for 2021: Freight-inPhp 30,000 Purchase returns75,000 Selling expenses150,000 Ending inventory260,000 The cost of goods sold is equal to 400% of selling expenses. What is the cost of goods available for sale?

In 2020, RM Co. started operations with an inventory costing P200,000. For the 1st 2020, the purchase and sales were as follows: quarter of February P380,000 510,000 The goods are sold at a gross profit of 20% of sales. For interim statement purposes, the January P50,000 240,000 March P704,00 P1,134,000 755,000 Total Purchases Sales 1,505,000 inventory at the end of January, February and March, respectively are

Prepare the statement of financial position as at 31 December 2020.

Mahoney, Inc. reports the following information in its annual report: January 1, 2024 December 31, 2024 Inventory value at LIFO $1,500,000 $1,600,000 LIFO reserve 40,000 50,000 Inventory value at FIFO $ 1,540,000 $1,650,000 Sales for 2024 totaled $10,000,000. Cost of goods sold under LIFO totaled $ 6,700,000. What is Mahoney's 2024 inventory balance, cost of goods sold and gross profit if it uses the FIFO method?

ail, and cost indexes for 2024 and 2025 are as follows: 2024 2025 Cost Retail Cost Retail Beginning inventory $ 39,200 $ 56,000 Net purchases 92,600 116,000 $ 104,166 $ 128,400 Freight-in 2,800 3,300 Net markups 14,000 9,600 Net markdowns 2,800 3,000 Net sales to customers 113,355 117,120 Sales to employees (net of 20% discount) 3,300 5,280 Price Index: January 1, 2024 1.00 December 31, 2024 1.06 December 31, 2025 1.10 Required: Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.

During 2021, Stan Company purchased P 1.92M of inventory. The cost of goods sold for the year was P 1.8M and ending inventory was P 360,000. What was the 2012 inventory turnover?

The 2020 financial statements of Blossom Company reported a beginning inventory of $90000, an ending inventory of $130000, and cost of goods sold of $847000 for the year. Blossom’s inventory turnover for 2020 is 7.7 times. 5.5 times. 9.4 times. 6.5 times.

For 2022 Amaya's Soul Food Catering had total sales of $597,341; sales returns and allowances of $10,514; beginning inventory costs of $38,917; cost of purchases, $261, 053; and year-end inventory of $42,013. Rounded to the nearest dollar (i.e. 12), what are their Net Sales? A • Rounded to the nearest dollar (i.e. 12), what is their Cost of Goods Sold? A • Rounded to the nearest dollar (i.e. 12), what is their Gross Profit? A/

Jan Cahilig Traders started operating in 2020. For the year ended 2020, the sales, purchases, and closing inventory are P600,000, P300,000 and P20,000. What is the cot of goods sold for the year ended 2020?