Messages
Proposals
Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.
Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support
Boston Bait Shop uses a periodic inventory system. At December 31, Year 2, the accounting records include the following information:
Inventory (as of December 31, Year 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,800
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79,600
Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,200
A complete physical inventory taken at December 31, Year 2, indicates merchandise costing
$3,000 remains in stock.
a. How were the amounts of beginning and ending inventory determined?
b. Compute the amount of the cost of goods sold in Year 2.
c. Prepare two closing entries at December 31, Year 2: the first to create a Cost of Goods Sold account with the appropriate balance and the second to bring the Inventory account up-to-date.
d. Prepare a partial income statement showing the shop’s gross profit for the year.
e. Describe why a company such as Boston Bait Shop would use a periodic inventory system rather than a perpetual inventory system.
| Writer | Writer Name | Amount | Client Comments & Rating |
|---|---|---|---|
ONLINE |
Instant Homework Helper |
$36 |
She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up! |
Custom Original Solution And Get A+ Grades
Custom Original Solution And Get A+ Grades
Custom Original Solution And Get A+ Grades
| Writer | Writer Name | Offer | Chat |
|---|---|---|---|
ONLINE |
Engineering SolutionsI have read and understood all your initial requirements, and I am very professional in this task. |
$16 | Chat With Writer |
ONLINE |
Accounting & Finance MasterI am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time |
$95 | Chat With Writer |
ONLINE |
Custom Coursework ServiceGive me a chance, i will do this with my best efforts |
$48 | Chat With Writer |
ONLINE |
Engineering MentorHello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism |
$59 | Chat With Writer |
ONLINE |
Quick MentorGive me a chance, i will do this with my best efforts |
$72 | Chat With Writer |
ONLINE |
Pro WriterI have read your project details. I can do this within your deadline. |
$61 | Chat With Writer |
Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.