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Exercise 5-17 Components of cost of goods sold LO1, 2, 7 Calculate the missing numbers in the following situations. (Input all amounts as positive values.) a b C Invoice cost of merchandise purchases $ 45,000 $ 22,000 $ 17,250 Purchase discounts 3,000 375 Purchase returns and allowances 2,000 850 650 Cost of transportation-in 2,250 3,000 Merchandise inventory (beginning of period) 5,500 4,500 Net cost of merchandise purchases 45,700 20,250 Merchandise inventory (end of period) 2,700 4,250 Cost of goods sold $ 21,800 $ 18,065

Exercise 5-17 Components of cost of goods sold LO1, 2, 7 Calculate the missing numbers in the following situations. (Input all amounts as positive values.) a b C Invoice cost of merchandise purchases $ 45,000 $ 22,000 $ 17,250 Purchase discounts 3,000 375 Purchase returns and allowances 2,000 850 650 Cost of transportation-in 2,250 3,000 Merchandise inventory (beginning of period) 5,500 4,500 Net cost of merchandise purchases 45,700 20,250 Merchandise inventory (end of period) 2,700 4,250 Cost of goods sold $ 21,800 $ 18,065

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 5-17 Components of cost of goods sold LO1, 2, 7 Calculate the missing numbers in the following situations. (Input all amounts as positive values.) a b C Invoice cost of merchandise purchases $ 45,000 $ 22,000 $ 17,250 Purchase discounts 3,000 375 Purchase returns and allowances 2,000 850 650 Cost of transportation-in 2,250 3,000 Merchandise inventory (beginning of period) 5,500 4,500 Net cost of merchandise purchases 45,700 20,250 Merchandise inventory (end of period) 2,700 4,250 Cost of goods sold $ 21,800 $ 18,065
Transcribed Image Text:Exercise 5-17 Components of cost of goods sold LO1, 2, 7 Calculate the missing numbers in the following situations. (Input all amounts as positive values.) a b C Invoice cost of merchandise purchases $ 45,000 $ 22,000 $ 17,250 Purchase discounts 3,000 375 Purchase returns and allowances 2,000 850 650 Cost of transportation-in 2,250 3,000 Merchandise inventory (beginning of period) 5,500 4,500 Net cost of merchandise purchases 45,700 20,250 Merchandise inventory (end of period) 2,700 4,250 Cost of goods sold $ 21,800 $ 18,065
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