O (269) Subscriptions - You x Lab 11 Accounting Cycle C Chegg Study | Guided Sc

Question

O (269) Subscriptions - You x Lab 11 Accounting Cycle C Chegg Study | Guided Sc x C Tony And Suzie Are Read Cezto.mheducation.com/hm.tpx Welcome, NicholaM McGraw-Hill ConncMy Library RedShelf O Kindle Cloud Reader Great Adventures Problem 6-1 Part 1 Required 1-a. Calculate sales revenue,cost of goods sold, and ending inventory as of December 31, 2019, assuming Suzie uses FIFO to account for inventory Sales revenue Cost of goods sold Ending inventory 1-b. Prepare the gross profit section of a partial income statement for transactions related to MU watches. GREAT ADVENTURES, INC. Partial Income Statement For the Year Ended December 31, 2019 Gross profit 300 PM 3/23/2018 2 Type here to search

Explanation / Answer

1-a.

1-b.

Working:

Total Units Purchased 265

Total units sold 180

Ending inventory 85

2-a.

Working:

b.

Sales revenue 53100 Cost of goods sold 28700 Ending inventory 14875

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