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What are the account titles of sold merchandise that cost 1500 for 2600 cash?
the answer is........... account title; cash 2600 merchandise sold 1500
How do you figure Cost of Merchandise Sold?
in 2007, best buy reported revenue of $35,934 million. its gorss profit was $8,679 million. what was the amount of of best buy's cost of merchandise sold
FIFO method Inventory 20 units at 20 sold 10 units purchased 30 units at 21 sold 20 units purchased 10 units at 22 what is the cost of the merchandise sold?
The cost of the merchandise sold is not important!!! :p
When the perpetual inventory system is used the inventory sold is shown on the income statement as?
cost of merchandise sold.
Why is salaries payable a natural debit balance?
cost of goods sold has a natural debit or credit balance
The Cost of Goods Sold account is classified as?
Expense on the income statement. The COI or Merchandise Inventory is reported on the balance sheet as an asset.
What does is mean by cost of goods sold?
COGS. An income statement figure which reflects the cost of obtaining raw materials and producing finished goods that are sold to consumers. Cost of Goods Sold = Beginning Merchandise Inventory + Net Purchases of Merchandise - Ending Merchandise Inventory.
What are the account titles of sold merchandise that cost 1500 for 2600 cash?
the answer is........... account title; cash 2600 merchandise sold 1500
In computing the cost of merchandise sold does freight increase or decrease the cost?
Freight costs are added to the cost of the merchandise. The total is typically referred to as the "landed" cost of the product.
How do you figure Cost of Merchandise Sold?
in 2007, best buy reported revenue of $35,934 million. its gorss profit was $8,679 million. what was the amount of of best buy's cost of merchandise sold
What financial statement does merchandise inventory at end of period go on?
Closing merchandise inventory belongs on both the income statement and the balance sheet. On the income statement, it is included under Cost of Goods Sold; on the balance sheet it is categorised under Current Assets.
FIFO method Inventory 20 units at 20 sold 10 units purchased 30 units at 21 sold 20 units purchased 10 units at 22 what is the cost of the merchandise sold?
The cost of the merchandise sold is not important!!! :p
If you sold merchandise for 5000.00and your cost was 3000.00?
You make 2000$ profit.
When the perpetual inventory system is used the inventory sold is shown on the income statement as?
cost of merchandise sold.
What should Damaged merchandise that can be sold only at price below cost be valued at?
LIFo
Are the cost of goods sold a balance sheet account?
Cost of goods sold is of expense nature and that's why not shown in balance sheet rather it is shown in income statement to match expenses against revenues.
What is the term applied to the excess of net revenue from sales over the cost of merchandise sold?
Gross Profit
