Question

Aebulied Company uses a perpetual inventory system to account for inventory. The following information is available for the month of January:

Beginning inventory: $100,000
Purchases: $200,000
Sales: $300,000
Cost of goods sold: $250,000
Required:
Calculate sales revenue.
Calculate cost of goods sold.
Calculate ending inventory.

Answer 1

The sales revenue is $50,000. The cost of goods sold is $250,000. The ending inventory is $50,000.

Step-by-step explanation:

To calculate the sales revenue, we need to subtract the cost of goods sold from the total sales. In this case, the cost of goods sold is $250,000. So the sales revenue would be $300,000 - $250,000 = $50,000.

To calculate the cost of goods sold, we need to subtract the ending inventory from the sum of the beginning inventory and purchases. In this case, the beginning inventory is $100,000, purchases are $200,000, and ending inventory is not given. Let's assume the ending inventory is $50,000. So the cost of goods sold would be $100,000 + $200,000 - $50,000 = $250,000.

To calculate the ending inventory, we need to subtract the cost of goods sold from the sum of the beginning inventory and purchases. In this case, the beginning inventory is $100,000, purchases are $200,000, and cost of goods sold is $250,000. So the ending inventory would be $100,000 + $200,000 - $250,000 = $50,000.