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2 years ago

Beginning inventory plus net purchases is:

Business

2 answers:

klemol [59]2 years ago

7 0

Answer:

merchandise available for sale , also known as cost of goods available for sale

Explanation:

you can use this formula to understand better :

Cost of Goods Available for sale = Opening Saleable Inventory + Finished Goods Produced during the period + Any Merchandise Acquired during the period.

Hope this helps...

Greeley [361]2 years ago

3 0

Beginning inventory plus net purchases provides the available inventory for sale or also known as the cost of goods available for sale.

If the cost of goods available for sale is deducted from closing inventory then it will provide the cost of goods sold during the period.

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Inventory is the current asset for a company

What is Inventory?

Inventory is the sum of products that are manufactured by an organization to be sold to consumer at a market price.

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Learn more about Inventory at brainly.com/question/27908790

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3 years ago

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assume the price of a product sold by a purely competitive firm is $5. given the data in the accompanying table, at what output

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The output level is total profit highest in the short run is 40 .

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1 year ago

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2 years ago

Which of the following fundamental archetypes of leadership is most likely to take risks and action in a crisis? a. The Visionar

tankabanditka [31]

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3 years ago

Skysong, Inc. began the year 2022 with retained earnings of $670000. During the year, the company sold additional shares of stoc

vlada-n [284]

Answer:

$787,000.

Explanation:

Skysong, Inc. generated a profit of $248,000 (633,000 - 385,000) during the year 2022. This amount has a credit balance in income statement, closing it would require a debit to it and a credit entry to match the debit is made to Retained Earnings account which is an item of Statement of Owners' Equity. Statement of Owners' Equity is a report that represents the Equity section of balance and accounts for any changes in the owners' equity during a period. The items included in this statement are Capital, Paid-up Capital, Retained Earnings, and Drawings. To calculate the ending balance of Skysong's retained earnings, we have to prepare a statement of owners' equity.

Statement of Owners' Equity

<u>Capital</u> <u>Retained Earnings</u>

Opening Balance - $670,000

Additional Stock $1,005,000

Profit for the Year 248,000

Dividends Paid (131,000)

Closing Balance $1,005,000 787,000

⇒ Skysong's retained earnings will be reported at $787,000 at the end of 2022.

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4 years ago