Which of the following is a step in solving for COGS in a periodic inventory system?

A company conducts a physical inventory count and finds discrepancies between the counted inventory and the recorded inventory. What impact does this have on the financial statements?

A company has a beginning inventory of \$5,000, purchases of \$10,000, and an ending inventory of \$4,000. How does this information help in evaluating the company's inventory management?

Which of the following is subtracted from purchases to calculate net purchases in a periodic inventory system?

Which of the following is necessary for solving a periodic inventory problem?

How do purchase discounts affect the calculation of cost of goods sold in a periodic inventory system?

A company has a beginning inventory of \$12,000, purchases of \$20,000, purchase discounts of \$1,000, and an ending inventory of \$10,000. Set up the equation to solve for COGS.

A manufacturing company conducts a physical inventory count and finds \$70,000 worth of inventory. If the beginning inventory was \$60,000, purchases were \$50,000, and purchase returns were \$10,000, what is the cost of goods sold?

A retail store conducts a physical inventory count and finds \$60,000 worth of inventory. If the beginning inventory was \$50,000, purchases were \$30,000, and purchase returns were \$5,000, what is the cost of goods sold?

If a company has a beginning inventory of \$10,000, purchases of \$15,000, and an ending inventory of \$8,000, what is the cost of goods sold?