Supply the missing dollar amounts for each of the following independent cases:CasesABCDESalesRevenueBeginningInventory$ 1,100 $1,3001,2801,400Purchases500 $ 1,2006001,2005004501,0001,300Cost of GoodsAvailable for SaleCost ofGoods Sold$7806001,050Cost ofEnding Inventory580700650Gross Profit800980

Working Notes : A. Cost of Goods Available for Sale = Beginning Inventory + Purchases…

Cases A B C DE Sales Beginning Revenue Inventory S 1,100 S 1,300 1,280 1,400 Purchases 500 $ 1,200 600 1,200 500 450 1,000 1,300 Cost of Goods Available for Sale Cost of Goods Sold S 780 600 1,050 Cost of Ending Inventory 580 700 650 Gross Profit 800 980

Cases A B C DE Sales Beginning Revenue Inventory S 1,100 S 1,300 1,280 1,400 Purchases 500 $ 1,200 600 1,200 500 450 1,000 1,300 Cost of Goods Available for Sale Cost of Goods Sold S 780 600 1,050 Cost of Ending Inventory 580 700 650 Gross Profit 800 980

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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Question

Supply the missing dollar amounts for each of the following independent cases:
Cases
A
B
C
D
E
Sales
Revenue
Beginning
Inventory
$ 1,100 $
1,300
1,280
1,400
Purchases
500 $ 1,200
600
1,200
500
450
1,000
1,300
Cost of Goods
Available for Sale
Cost of
Goods Sold
$
780
600
1,050
Cost of
Ending Inventory
580
700
650
Gross Profit
800
980

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