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    kels2010's Avatar
    kels2010 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Oct 21, 2010, 09:05 AM
    How to find beginning inventory?
    They provide ending inventory of 227 million, cost of goods sold of 630 million, cogs available for sale of 857 million, purchase discounts of 15 million, and the gross purchases amount is also missing. Does anyone know how to do this?
    ArcSine's Avatar
    ArcSine Posts: 969, Reputation: 106
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    #2

    Oct 21, 2010, 11:32 AM
    Not quite enough info, as it stands.

    Beginning Inv + Purchases - Purchase discounts = COGS available

    With the data provided, that becomes B + P - 15 = 857. So B could be about anything... it depends on P.

    Is there anything else given, such as "discounts are X% of gross purchases"?
    khiemnguyen1's Avatar
    khiemnguyen1 Posts: 1, Reputation: 1
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    #3

    Mar 18, 2011, 04:09 PM
    Cost of merchandise sold = beginning inventory + purchase - ending inventory
    cost of merchandise sold = 630.000.000
    Purchase = 15.000.000
    Ending inventory = 227.000.000
    630.000.000 = BI + 15.000.000 - 227.000.000
    BI= 630.000.000.-15.000.000 +227.000.000
    BI= 842.000.000
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