Posted: January 6th, 2016

Compute the Cost of Goods Sold.

4. Compute the Cost of Goods Sold. Explain the steps you used to make the computation. Use illustrations from the chapter readings and the additional information for the projects.
5. Prepare the simple Income Statement, using the information shown above in the additional information for the project.
6. Compute the amount of merchandise inventory to be shown on the January 1, 2015, Balance Sheet. Explain the steps you used to make the computation. Use illustrations from the chapter readings and the additional information for the project.
7. Consider the Critical Thinking matrixguidelines and adapt them to this situation.