What is the cost of goods sold in periodic inventory system

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Problem 1: What is the cost of goods sold in a periodic inventory system if the Beginning Inventory is $70, the Net Purchases are $200, and the ending inventory is $40.

Problem 2: Determine the Gross Profit in the following situation: Beginning Inventory (150 units @ $10 each); Sales (120 units @ $15 each and 150 units @ $16 each); Purchases (200 units @ $11 each and 130 units @ $12 each); and Ending Inventory contains 210 units totaling $2,440?

Problem 3: What is the unit cost of merchandise in the following situation: Invoice Cost $2,000; Discount (10% of Invoice Cost); Custom and Excise Tax $150; Freight Charge $200; and Shipping Insurance $80?

Problem 4:  In a Perpetual Inventory System, what would be the ending inventory if Beginning Inventory was $30, Purchases were $70 and Cost of Goods Sold was $25?

Reference no: EM132887671

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