Solution-How much is the cost of goods sold

How much is the cost of goods sold

Reference no: EM133138751

Question - Yna Supermarket had the following information pertaining to their inventory:

Particulars	Amount
Purchase returns and allowances	80,000
Purchase discount	10,000
Transportation-in	50,000
Transportation-out	65,000
Net Cost of Purchase	950,000
Sales returns and allowances	75,000

On the beginning of the year 2019, the company conducted a physical inventory count; the warehouse had 88,500 amount of goods stored. December 31, 2019 - Upon completion of Physical Inventory Count the company had 49,000 worth of goods inside the warehouse.

Required -

a. How much is the Purchases?

b. How much is the Cost of Goods sold?

Reference no: EM133138751

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How much is the cost of goods sold

Reference no: EM133138751

Reference no: EM133138751

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