Inventory Calculations
Not what you're looking for?
During 2005, Purchases were $1,320,000; Purchases Adjustments were 10% of net Purchases; Cost of Goods Purchased was $1,440,000; Inventory decrease by 1/3 and is $360,000 at 12/31/05 (fiscal end).
Comute FYE 12/31/05, the amount of :
1) Purchases Adjustments
2) Freight-In
3) Beginning Inventory
4) Cost of Goods Sold
CLUE must match: Net Purchases + Cost of Goods Available for Sale is $3,180,000
Purchase this Solution
Solution Summary
The solution explains the inventory calculations relating to Purchases Adjustments, Freight-In, Beginning Inventory and Cost of Goods Sold
Solution Preview
1) Purchases Adjustments - The purchase adjustment are 10% of net purchase. Net purchase = Purchases Less Purchase Adjustment. If net purchase is x then x + 10% x = 1,320,000. This gives net pruchases as 1,200,000 and purchase ...
Purchase this Solution
Free BrainMass Quizzes
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.