The Playa Company uses a periodic inventory system. The following information is

Question

The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data have been intentionally omitted. ($ in thousands)

Required:
Determine the missing numbers. (Enter all amounts as positive numbers. Enter your answers in thousands.) 2018 2019 2020 Beginning inventory 681 235 Cost of goods sold 687 641 Ending inventory 235 199 Cost of goods available for sale 976 860 Purchases (gross) 730 685 Purchase discounts 38 35 Purchase returns 44 50 34 Freight-in 33 52 36 The Playa Company uses a periodic inventory system. The following information is taken from Playa's records. Certain data have been intentionally omitted. ($ in thousands)

Required:
Determine the missing numbers. (Enter all amounts as positive numbers. Enter your answers in thousands.) 2018 2019 2020 Beginning inventory 681 235 Cost of goods sold 687 641 Ending inventory 235 199 Cost of goods available for sale 976 860 Purchases (gross) 730 685 Purchase discounts 38 35 Purchase returns 44 50 34 Freight-in 33 52 36

Explanation / Answer

2018 2019 2020 Beginning inventory 681 289 235 Cost of goods sold 687 641 661 Ending inventory 289 235 199 Cost of goods available for sale 976 876 860 Purchases (gross) 730 620 685 Purchase discounts 38 35 62 Purchase returns 44 50 34 Freight-in 33 52 36

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