Assume that Fahad Company has Inventory on January 1 at cost of $6,600. And purchases...
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Assume that Fahad Company has Inventory on January 1 at cost of $6,600. And purchases inventory on March 17 at cost of $74,300. On June 6 it returned $4,300 of the inventory that was purchased on March 17 to the supplier because it was damaged. Assume cost percentage is 58% , and the sales was $89,000 and $4,500 of the sales was returned.
What is the cost of goods available for sale?
What are the net sales?
What is the estimated of cost of goods sold?
What is the estimated ending inventory?
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