yuahat, Financial Accounting: IFRS, 3e Practice Assignment Gradebook ORION Downl

Question

yuahat, Financial Accounting: IFRS, 3e Practice Assignment Gradebook ORION Downloadable eTextbook ssignment CALCULATOR ES Exercise 6-10 Your answer is partially correct. Try again. Culver Hardware reported cost of goods sold as follows. 33,200 Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory 23,890 152,880193,130 226,330 176,770 33,200 38,550 y Cost of goods sold Culver made two errors: (1) 2016 ending inventory was overstated 2,280, and (2) 2017 ending inventory was understated 6,390. Compute the correct cost of goods sold for each year. 179110 145850 The correct cost of goods sold LINK TO TEXT

Explanation / Answer

2017 Beginning Inventory $30,920 Cost of goods purchased $193,130 Cost of goods available for sale $224,050 Ending Inventory $44,940 Cost of goods sold $179,110

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