k1990
Mar 3, 2012, 12:03 AM
Need help finding (a) which is Beginning Inventory.
pready
Mar 3, 2012, 07:36 AM
First you start with COGS available for sale, then reverse your transactions for transportation in, purchase discounts, purcahse returns & allowances, and purchases (gross) to get your Beginning inventory.
$7,110 - 150 + 200 + 470 - 6,230 = $ 1,400 Beginning Inventory.