7-7 Cost of Goods Sold Equation BI + P – CGS = EI National Outfitters beginning inventory was $4,800. During the period, the company purchased invento
{"Image DocumentName": "Cost of Goods Sold Equation", "Image ImageDescription": "BI + P \u2013 CGS = EI. National Outfitters\u2019 beginning inventory was  4,800. During the period, the company purchased inventory for  10,200. The cost of goods sold for the period is  9,000. Compute the ending inventory. Cost of Goods Sold Calculation. + = - Beginning Inventory. Purchases. Cost of Goods Available for Sale. Cost of Goods sold. Ending Inventory.   4, , ,000. 9,000.   6,000. Part I. The Cost of Goods Sold calculation starts with Beginning Inventory (BI). To Beginning Inventory we add the amount of inventory purchased (P) during the period and then subtract Cost of Goods Sold (CGS) to get the Ending Inventory (EI) National Outfitters\u2019 Beginning Inventory was  4,800. During the period, the company purchased inventory for  10,200. The Cost of Goods Sold for the period is  9,000. Compute the Ending Inventory. Part II. Beginning Inventory plus Purchases equal cost of goods available for sale. We then subtract Cost of Goods Sold from cost of goods available of sale to get Ending Inventory.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}