Exercise 6-16 Waterway Industries reported cost of goods sold as follows. 2017 2
ID: 2543464 • Letter: E
Question
Exercise 6-16
Waterway Industries reported cost of goods sold as follows.
2017
2016
$ 31,730
$ 21,270
164,530
169,130
196,260
190,400
39,380
31,730
$156,880
$158,670
Waterway Industries made two errors:
Compute the correct cost of goods sold for each year.
2017
2016
Beginning inventory$ 31,730
$ 21,270
Cost of goods purchased164,530
169,130
Cost of goods available for sale196,260
190,400
Less: Ending inventory39,380
31,730
Cost of goods sold$156,880
$158,670
-> í Scourc httpa//ccugen.vilaypus.ccmodugentí'main.uni Rcturn to Blackboard WileyPLUS mel, Accounting, Ge Wateay industries reportad co of goods sold as fallows 2017 2016 Fxrci- Baginning Inventory Cost of good: purchased Cost ar goads avallaba tor sale Les:: Ending inventory 21,270 31,730 64,530 106,260 39,3an Reviow Score 156,AB $158,670 Waterway Industries made two errors 12010 endnq inventory was gverstated bY $2,100. 2. 2017 ending invcntory wes understated by 5,110 Compute the correct cost f ouds sold for each year 2017 Tha carrect cost of gneda sold Question Atternpts: U of used SAVE FOR LATER O lype hene to searchExplanation / Answer
Calculate compute cost of goods sold :
2017 2016 Beginning inventory 29630 21270 Cost of goods purchased 164530 169130 Cost of goods available for sale 194160 190400 Less; Ending inventory 44520 29630 Cost of goods sold 149640 160770