The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data been intentionally omitted ($ in thousands)
2011 2012 2013
Beginning inventory ? ? 225
Cost of goods sold 627 621 ?
Ending inventory ? 225 ?
Cost of goods available for sale 876 ? 800
Purchases (gross) 630 ? 585
Purchase discounts 18 15 ?
Purchase returns 24 30 14
Freight-in 13 32 16
1. Determine the missing numbers. Show computation where appropriate.© BrainMass Inc. brainmass.com June 25, 2018, 3:18 pm ad1c9bdddf
See attached file.
You were missing one item from the problem ending inventory in ...
The computations are in yellow cells in Excel (click in cells to see computations). I have arranged the data in the format that matches the three equations given so that you can "see" how to solve for the missing piece with a bit of algebra.