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Inessa [10]
3 years ago
7

Beginning inventory, purchases, and sales for Product XCX are as follows:

Business
1 answer:
9966 [12]3 years ago
4 0

Answer:

Cost of merchandise sold = $483 , Closing stock = $227

Explanation:

Perpetual inventory system includes updates done, when sale or purchase transaction happens

Opening Stock = 26 units (price 15). Value = 26 x 15 = 390

Sale = 13 units, price 15. So, sales cost value =  13 x 15 = 195  

Purchase = 20 units (price 16). Value = 20 x 16 = 320

Sale = 18 units, price 16. So, sales cost value = 18 x 16 = 288

Total sales cost value, or cost of merchandise sold = 195 + 288 = 483

Closing stock = Opening stock + purchase - sales cost

= 390 + 320 - 483

= $227

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Required information Problem 4-33 (LO 4-1) (Algo) [The following information applies to the questions displayed below.] Nitai, w
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Answer:

a-1. Strictly considering tax factors, should Nitai work or repair his car if the $420 he must pay to have his car fixed is not deductible?

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