Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.
举一反三
- The difference between Cost of Goods Sold and Cost of Goods Available for Sale is: A: Beginning Inventory B: Ending Inventory C: Net Sales D: Net Purchases
- Inventory turnover can be<br/>calculated by: () A: adding beginning and ending<br/>inventory; divide by two B: dividing the cost of goods<br/>sold by average inventory C: dividing average inventory<br/>by the cost of goods sold D: multiplying average<br/>inventory by 1.5
- ___________ is the average number of times the inventory is sold per year. A: a. Inventory storage B: b. Cost of goods sold C: c. Cost of goods available for sale D: d. Inventory turnover
- Beginning merchandise inventory plus the net cost of purchases is the merchandise available for sale.
- Which of the following is the correct formula for cost of sales? A: Opening inventory – purchases + closing inventory B: Purchases – closing inventory + sales C: Opening inventory + closing inventory – purchases D: Opening inventory – closing inventory + purchases