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  • Intermediate Accounting Formulas

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    Sariephine Grace Aras
    8 views2 pages
    This document outlines calculations for estimated inventory shortages, losses, and costs of goods sold. It provides formulas and labels for determining beginning inventory, net purchases, total goods available for sale, estimated inventory ending based on count vs cost, shortages or losses based on damaged vs undamaged inventory, sales and returns, cost and sales ratios, and the gross profit ratio.

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    This document outlines calculations for estimated inventory shortages, losses, and costs of goods sold. It provides formulas and labels for determining beginning inventory, net purchases, total goods available for sale, estimated inventory ending based on count vs cost, shortages or losses based on damaged vs undamaged inventory, sales and returns, cost and sales ratios, and the gross profit ratio.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views2 pages

    Intermediate Accounting Formulas

    Uploaded by

    Sariephine Grace Aras
    This document outlines calculations for estimated inventory shortages, losses, and costs of goods sold. It provides formulas and labels for determining beginning inventory, net purchases, total goods available for sale, estimated inventory ending based on count vs cost, shortages or losses based on damaged vs undamaged inventory, sales and returns, cost and sales ratios, and the gross profit ratio.

    Copyright:

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

    Estimated Cost Inventory SHORTAGE

    Total Goods for Sale


    (Estimated Cost of Good Sold)
    Estimated Inventory Ending
    (Inventory, per Count)
    Estimated Count SHORTAGE

    Estimated Cost of Goods Sold


    Sales
    (Sales Return)
    Net sales

    Net Sales x
    Cost Ratio
    Based on Sales
    Net Sales x
    Sales Ratio
    Based on Cost

    Notes: Gross Profit Ratio


    CR=100%-(given)
    SR=100%+(given)
    Estimated Inventory LOSS due to Casulty
    Total Goods for Sale
    (Estimated Cost of Good Sold)
    Estimated Inventory Ending
    Damaged Inventory Salvage/net realizable
    Undamaged Inventory at cost
    Estimated Inventory LOSS

    Total Goods Available for Sale


    Beginning Inventory 10000
    Net Purchases
    were marked to sell
    Cost Rato
    Invoice Price(FOB)
    Total Goods Availble for Sale

    Estimated Cost of Goods Sold


    Sales
    (Sales Return)
    Net sales

    Net Sales x
    Cost Ratio
    Based on Sales

    Net Sales x
    Sales Ratio
    Based on Cost

    Notes: Gross Profit Ratio


    CR=100%-(given)
    SR=100%+(given)

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