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  • Beginning Inventory 220,000 Purchases 1,200,000 Goods Available For Sale 1,420,000 Sales 2,100,000 Ratio 65% 1,365,000

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    Jasper Gica
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    The company began with ₱220,000 in inventory. It made ₱1,200,000 in purchases, giving ₱1,420,000 in goods available for sale. The company had ₱2,100,000 in sales, with a cost of goods sold ratio of 65%, equating to ₱1,365,000 in cost of sales. This left ₱55,000 remaining in ending inventory.

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    FA3_4MCKENZIE

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    The company began with ₱220,000 in inventory. It made ₱1,200,000 in purchases, giving ₱1,420,000 in goods available for sale. The company had ₱2,100,000 in sales, with a cost of goods sold ratio of 65%, equating to ₱1,365,000 in cost of sales. This left ₱55,000 remaining in ending inventory.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    7 views2 pages

    Beginning Inventory 220,000 Purchases 1,200,000 Goods Available For Sale 1,420,000 Sales 2,100,000 Ratio 65% 1,365,000

    Uploaded by

    Jasper Gica
    The company began with ₱220,000 in inventory. It made ₱1,200,000 in purchases, giving ₱1,420,000 in goods available for sale. The company had ₱2,100,000 in sales, with a cost of goods sold ratio of 65%, equating to ₱1,365,000 in cost of sales. This left ₱55,000 remaining in ending inventory.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Beginning Inventory ₱220,000 Dec.

    31 Income Summary
    Purchases ₱1,200,000 Merchandise Inventory
    Goods Available for Sale ₱1,420,000

    Sales ₱2,100,000
    Ratio 65%
    Cost of Sales ₱1,365,000

    Ending Inventory burned 55,000

    Net Sales ₱2,100,000


    Cost of goods sold ₱1,365,000
    Gross Profit ₱735,000
    220,000
    220,000

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