Problems
135. At the beginning of 2015, Calston Incorporated reports inventory of $9,000. During 2015, the company purchases additional inventory for $25,000. At the end of 2015, the cost of inventory remaining is $8,000. Calculate cost of goods sold for 2015.
136. For each company, calculate the missing amount.
Company
Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Net
Income
Lennon
$8,000
(a)
$4,000
$3,000
$1,000
Harrison
9,000
3,000
(b)
2,000
4,000
McCartney
8,000
5,000
(c)
Starr
7,000
(d)
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