Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Cost of goods sold? (https://www.askmehelpdesk.com/showthread.php?t=600509)

  • Oct 2, 2011, 08:31 PM
    LoveBug19
    Cost of goods sold?
    On December 1, Discount Electronics Ltd. Has three DVD players left in stock. All are identical, all are priced to sell at $85. One of the three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $52. Another, with serial #1045, was purchased on November 1 for $48. The last player, serial #1056, was purchased on November 30 for $43.
  • Oct 3, 2011, 08:36 AM
    pready
    Take the cost of the DVD players in beginning inventory + cost of purchases - the cost of the 3 remaining playes to get your Cost Of Goods Sold.

    Your cost of the 3 remaining players is:
    $52 + 48 + 43 = Ending merchandise Inventory

  • All times are GMT -7. The time now is 01:56 PM.