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    k1990's Avatar
    k1990 Posts: 6, Reputation: 1
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    #1

    Mar 3, 2012, 12:03 AM
    Find Missing Information for COGS
    Need help finding (a) which is Beginning Inventory.
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    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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.

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