Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the inventory accounts for billings, incorporated

The inventory accounts for Billings, Incorporated for the years ending December 31, 2011, 2012 and...

90.2K

Verified Solution

Question

Accounting

The inventory accounts for Billings, Incorporated for the years ending December 31, 2011, 2012 and 2013 are shown in the table below (all figures are in dollars): 2011 2022 2013 Inventories 250,200 272,300 260,100 Billings purchased $196,400 of materials in 2012 and $206,300 of materials in 2013. a. What did Billings report as cost of goods sold on its income statement in 2012? b. What did Billings report as cost of goods sold on its income statement in 2013?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Operations Management
1.2K views

Focusing on the company Nestles Trinidad and Tobago, Market penetration, market development and Product development are strategies...

Biology
1.2K views

Describe the functions of the following proteins and how they modify other proteins to activate or...

Physics
1.2K views

400 cm of mercury at 0 C will expand to what volume at 50 C...

Geometry
1.2K views

Given Find Given Find m n Transversal k m 3 x 3x m 6 x...

Basic Math
1.2K views

A population of bears increased by 50% in 4 years.If the situation is modeled by...

Calculus
1.2K views

To find the distance between two cities a satellite calculates the distances and angle shown...

Algebra
1.2K views

a Simplify the expression if possible If it can not be simplified enter the original...

Algebra
1.2K views

Tyler ordered a pat toepee 14137 fe 1077ft 3534 fe O 3375 fe or an...

Accounting
1.2K views

Under job-order costing, the salary expense of the company's Human Resources Manager is...

Accounting
1.2K views

Problem 20-2 (Algo) Change in principle; change in method of accounting for long-term construction [LO20-2]...

Accounting
1.2K views

You bought a term deposit on Jan. 15, 2016 that paid 4.25% simple. It matured...

Accounting
1.2K views

E 6-5 General questions [Based on AICPA] 1. On January 1, 2016, Pam Company sold...