Inventories, Cost of Goods Sold, and Net Income
The data presented below are for a retail organization and a manufacturing organization.
1. Fill in the missing data for the retail organization:
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |
| Sales | $9 | $ e | $15 | $ k |
| Gross margin | a | 4 | 5 | 1 |
| Ending merchandise inventory | 5 | f | 5 | m |
| Beginning merchandise inventory | 4 | g | h | 5 |
| Net cost of purchases | b | 7 | 9 | n |
| Operating income | 3 | 2 | i | 2 |
| Operating expenses | c | 2 | 2 | 4 |
| Cost of goods sold | 5 | 6 | j | 11 |
| Cost of goods available for sale | d | 12 | 15 | 15 |
2. Fill in the missing data for the manufacturing organization:
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |
| Ending finished goods inventory | $a | $ 3 | $ h | $ 6 |
| Cost of goods sold | 6 | 3 | 5 | 1 |
| Operating income | 1 | 3 | 1 | m |
| Cost of goods available for sale | 8 | d | 10 | 13 |
| Cost of goods manufactured | 5 | e | i | 8 |
| Gross margin | 4 | f | j | 7 |
| Operating expenses | 3 | g | 5 | 6 |
| Beginning finished goods inventory | b | 2 | 3 | n |
| Sales | c | 10 | k | 14 |
Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…
TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…
Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…
you need to post your 2-page information flier to share with your Final Project Group.…
discussion: Discuss the methods used at your company to measure and ensure quality products and…