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Type: Posts; User: london_mirza

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  1. Answers
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    3,466

    That is the wrong answer first of all, second of...

    That is the wrong answer first of all, second of all to figure out the beginning inventory, you do not need all that information. You can simply find it out by using the formula I have instructed,...
  2. Answers
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    3,466

    I would think that my method is a lot more...

    I would think that my method is a lot more simplistic and easier...
    It is the method that I perform for top case companies (I am an Ivey Business student with an HBA)
  3. Answers
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    Re-Arrange the formula given above for either one...

    Re-Arrange the formula given above for either one your looking for.. if both are missing use the COGS only for Purchases or Beginning Inventory... The ending inventory and COGS are highly different...
  4. If you can't find Beginning inventory DO NOT use...

    If you can't find Beginning inventory DO NOT use ending inventory. The two are highly different numbers.. best would be to use the, Cost of Goods Sold figure amount. The right way to arrange the...
  5. Answers
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    3,466

    Formula for that section of the SOE is, COGS =...

    Formula for that section of the SOE is, COGS = Beginning Inventory + Purchases - Ending Inventory

    So, to find the BI, you would re-arrange the formula to look like, BI = COGS - Purchases + Ending...
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