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Answer:
Find below a properly aligned details of the question:
The following amounts were obtained from the accounting records of Enderle Company:
2016 2017 2018
Beginning inventory $38,900 (b (d)
Net purchases (a) $71,200 $91,820
Ending inventory 42,100 (c) 42,350
Cost of goods sold 83,500 90,800 (e)
Find all the answers and computations below
Explanation:
In the year 2016, net purchases can be computed using the cost of sales formula below:
cost of sales=beginning inventory+purchases-ending inventory
purchases=cost of sales+ending inventory-beginning inventory
purchases=$83,500+$42,100-$38,900=$ 86,700.00
Ending inventory in 2016=beginning inventory in 2017=$42,100
Ending inventory in 2017=beginning inventory+purchases-cost of sales
Ending inventory in 2017=$42,100+$72,100-$90,800=$ 23,400.00
ending inventory in 2017=beginning inventory in 2018=$23,400.00
cost of sales in 2018=beginning inventory+purchases-ending inventory
cost of sales in 2018=$23,400+$91,820 -$42,350 =$72,870
