Compute the Missing Inventory Values The following information was disclosed in

Question

Compute the Missing Inventory Values The following information was disclosed in the 2012 annual report of The Arcadia Company. HINT: Remember that ending inventory for one year is the beginning inventory for the next year 2010 2011 2012 Beginning inventory $11,560 Purchase of inventory 42,640 45,850 Inventory available for sale 54,200 Ending inventory 9,655 Cost of goods sold 43,715 42,480 13,600 Formula to Calculate missing values Beginning Inventory + Purchases = Goods Available for Sale -Cost of Goods Sold = Ending Inventory Compute the Missing Inventory Values The following information was disclosed in the 2012 annual report of The Arcadia Company. HINT: Remember that ending inventory for one year is the beginning inventory for the next year 2010 2011 2012 Beginning inventory $11,560 Purchase of inventory 42,640 45,850 Inventory available for sale 54,200 Ending inventory 9,655 Cost of goods sold 43,715 42,480 13,600 Formula to Calculate missing values Beginning Inventory + Purchases = Goods Available for Sale -Cost of Goods Sold = Ending Inventory

Explanation / Answer

Compute the Missing Inventory Values The following information was disclosed in the 2012 annual report of The Arcadia Company. HINT: Remember that ending inventory for one year is the beginning inventory for the next year 2010 2011 2012 Beginning inventory $11,560 10,485 9,655 Purchase of inventory 42,640 41,650 45,850 Inventory available for sale 54,200 52,135 55,505 Ending inventory 10,485 9,655 41,905 Cost of goods sold 43,715 42,480 13,600 Formula to Calculate missing values Beginning Inventory + Purchases = Goods Available for Sale -Cost of Goods Sold = Ending Inventory

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