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ACC101-W01 SU24(MAY START) Do Homework Do Homework - Ch 6 Problems ...

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Accounting

ACC $101 -$ W $01$ SU $24 ($ MAY START $)$

Do Homework

Do Homework $-$ Ch $6$ Problems

Appendix F: $6$ A: Merchandise Invent $1$

Morgan Fleming

$07 / 15 / 24 2$

Homework: Ch $6$ Problems

Question $6,$ SF $6 - 9 ($ book $/$ static $)$

HW Score: $23.24 %, 2.56$ of $11$ points

Part $1$ of $4$

Points: $0$ of $1$

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Question $9$

New York Pool Supplies' merchandise inventory data for the year ended December $31, 2025,$ follow:

$($ Click the icon to view the inventory data. $)$

Read the requirements.

Requirement $1 .$ Assume that the ending merchandise inventory was accidentally overstated by $ $1, 800 .$ What are the correct amounts for cost of goods sold and gross profit?

Cost of goods sold in $2025$ would be

Data table

$\$ table $[[$ Net Sales Revenue,,,$ $, 58, 000], [$ Cost of Goods Sold: $], [$ Beginning Merchandise Inventory,$ $, 4, 900,,], [$ Plus: Net Cost of Inventory Purchased,, $32, 500,,], [$ Cost of Goods Available for Sale,, $37, 400,,], [$ Less: Ending Merchandise Inventory,, $4, 700,,], [$ Cost of Goods Sold,,,, $32, 700], [$ Gross Profit,,,$ $, 25, 300]]$

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