PROBLEM #20

1 2 3 4
Net Sales 120,000.00 180,000.00 250,000.00 290,000.00
Merchandise Inventory, 1/1/2021 30,000.00 50,000.00 70,000.00 40,000.00
Add: Net Cost of Purchases 80,000.00 110,000.00 190,000.00 160,000.00
Goods Available for Sale 110,000.00 160,000.00 260,000.00 200,000.00
Less: Merchandise Inventory, 1/31/2021 40,000.00 20,000.00 30,000.00 70,000.00
Cost of Goods Sold 70,000.00 140,000.00 230,000.00 130,000.00
Gross Profit 50,000.00 40,000.00 20,000.00 160,000.00

PROBLEM #21
1 2 3 4
Net Sales 100,000.00 130,000.00 200,000.00 240,000.00
Beginning Inventory 15,000.00 12,000.00 20,000.00 30,000.00
Add: Net Cost of Purchases 55,000.00 53,000.00 125,000.00 95,000.00
Goods Available for Sale 70,000.00 65,000.00 145,000.00 125,000.00
Less: Ending Inventory 10,000.00 25,000.00 30,000.00 15,000.00
Cost of Goods Sold 60,000.00 40,000.00 115,000.00 110,000.00
Gross Profit 40,000.00 90,000.00 85,000.00 130,000.00

PROBLEM #22
1 2 3 4
Unadjusted Cost of Good Sold 100,000.00 120,000.00 84,000.00 104,000.00
Merchandise Inventory, Beginning - 4,000.00 6,000.00 - 2,000.00
Merchandise Inventory, Ending 4,000.00 - 6,000.00 2,000.00
Adjusted Cost of Goods Sale 104,000.00 110,000.00 92,000.00 102,000.00

Beginning Inventory 50,000.00 36,000.00 36,000.00 44,000.00

Net Cost of Purchases 90,000.00 110,000.00 100,000.00 90,000.00
Goods Available for Sale 140,000.00 140,000.00 136,000.00 134,000.00
Ending Inventory 36,000.00 36,000.00 44,000.00 32,000.00
Cost of Good Sold 104,000.00 110,000.00 92,000.00 102,000.00
 Net Sales
5 Less: Cost of Goods Sold
400,000.00 Gross Profit
120,000.00
390,000.00
510,000.00
130,000.00
380,000.00
20,000.00