E9.16 – Almaden Valley Variety Store
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the data regarding retail and cost of inventory… calculate the ending inventory and cost of goods sold.
Given the data regarding retail and cost of inventory… calculate the ending inventory and cost of goods sold.
Given data regarding the cost and retail of their inventory … using the conventional retail method – calculate the ending inventory and cost of goods sold along with recalculating the cost-to-retail percentage.
Given a purchase that was recorded in the wrong year… prepare a journal entry for the adjustment.
Given the Inventory purchases that are incorrectly charged, and the merchandise the company failed to include… find the retained earnings, and inventory.