Bill Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $2,900 in inventory. During th
Posted: Sun Jun 05, 2022 5:18 pm
Bill Rose owns Rose Sporting Goods. At the beginning of the
year, Rose Sporting Goods had $2,900 in inventory. During the year,
Rose Sporting Goods purchased inventory that cost $13,500. At the
end of the year, inventory on hand amounted to $4,100.
Required
a. Calculate the cost of goods available for sale during
the year.
b. Calculate the cost of goods sold for the
year.
c. Calculate the amount of inventory Rose Sporting Goods would
report on its year-end balance sheet.
year, Rose Sporting Goods had $2,900 in inventory. During the year,
Rose Sporting Goods purchased inventory that cost $13,500. At the
end of the year, inventory on hand amounted to $4,100.
Required
a. Calculate the cost of goods available for sale during
the year.
b. Calculate the cost of goods sold for the
year.
c. Calculate the amount of inventory Rose Sporting Goods would
report on its year-end balance sheet.