1. Happy Selling's beginning inventory amounted to 250,000. Net purchases amounted to 70,000. Freight In...

70.2K

Verified Solution

Question

Accounting

1. Happy Selling's beginning inventory amounted to 250,000. Net purchases amounted to 70,000. Freight In totaled 15,000. Compute for the company's cost of goods available for sale.

2. Company's Cost of Good Sold amounted to Php 285,000. Net cost of purchases totaled Php 85,000. Beginning inventory amounted to Php 250,000. Sales amounted to Php 500,000. Compute for the company's Ending Inventory.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students