[k1990]

I just need help finding D and E. I will provide the other missing info that I found myself. I just could not seem to find a equation to find the COGS and ending inventory without having to use both in a equation and I don't have the amount for either. ANY HELP IS APPRECIATED !

Given Info:


Sales Revenue $125,600
Less: Sales Returns and allowances (a)= $3560
Net Sales $122,040
COGS:
Beg. Inv. $23,400
Purchases (b) = $75,900
Less: Purchase discounts $1,300
Net Purchases (c) = $74,600
Add: Trans.-In $6,550
COGS purchased $81,150
COGS available for sale $104,550
Less: E. Inventory (e)
COGS (d)
Gross Profit $38,600
Operating expenses (f) = $12,300
Income before tax $26,300
Income tax expense $10,300
Net Income (g) = $16,000

THANKS :)

[pready]

Based on the information provided you simply start with your Net Sales and subtract out your Gross Profit to get your COGS.

To get your ending inventory simply start with COGS available for sale and subtract out your COGS.

[k1990]

Thanks!