Post a New Question

math

posted by .

acacia company had inventory of 100,000 on December 31, 2012. other information is as follows:
purchases $1,500,000
sales 3,000,000
inventory 1/1/2012 300,000
what is the amount of acacia cost of goods sold for 2012?

do you add in the sales for the year?

  • math -

    Cost of goods sold:
    Beginning inventory 300,000
    purchases $1,500,000. 1,500,000
    Cost of goods available for sale = 1,800,000
    Less ending inventory. 100,000
    Cost of goods sold 1,700,000

    You do not needed to add the sale.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    Staley Watch Company reported the following income statement data for a 2-year period. 2008 2009 Sales $210,000 $250,000 Cost of goods sold Beginning inventory 32,000 44,000 Cost of goods purchased 173,000 202,000 Cost of goods available …
  2. accounting

    Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2011, its fiscal-year end, based on a physical count, was determined to be $326,000. Capwell's unadjusted trial balance also showed …
  3. Math

    Tatum Company has four products in its inventory. Information about the december 31, 2009, inventory is as follows: product total total total Net cost replacement realizable cost Value 101 $120,000 110,000 100,000 102 90,000 85,000 …
  4. accounting

    Fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting it in parentheses. a b c d e Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $60,000 $42,500 …
  5. Managerial Accounting

    The following information was drawn from the year-end blance sheet of Desoto Company: Account Title` 2012 2011 Investment securities $35,500 $30,000 Equipment 235,000 220,000 Buildings 845,000 962,000 Land 80,000 69,000 Additional …
  6. accounting

    The following information is available for ABC Company for the year ended December 31, 1997: Ending Inventory …………………………. $7,500 Purchases …………………………………. 31,000 Transportation-in …………………………. …
  7. Math/Accounts

    Estimate the cost of ending inventory based on the retail method using the following information: Cost Retail Beginning Inventory $ 600,000 $ 800,000 Purchases $ 450,000 $ 600,000 Net Sales $1,000,000 A. $150,000 B. $262,500 C. $300,000 …
  8. Accounting

    Motorcycle Manufacturers, Inc. projected sales of 76,000 machines for 2012. The estimated January 1, 2012, inventory is 6,500 units, and the desired December 31, 2012, inventory is 7,000 units. What is the budgeted production (in units) …
  9. math

    acacia company had inventory of 100,000 on December 31, 2012. other information is as follows: purchases $1,500,000 sales 3,000,000 inventory 1/1/2012 what is the amount of acacia cost of goods sold for 2012?
  10. math

    acacia company had inventory of 100,000 on December 31, 2012. other information is as follows: purchases $1,500,000 sales 3,000,000 inventory 1/1/2012 what is the amount of acacia cost of goods sold for 2012?

More Similar Questions

Post a New Question