Your concept is not ok.
Remember that inventory beginning balance + purchases = COGS + inventory ending balance
= 15% * (60%*600,000)
= 54,000 $
= 15% * (60%*650,000)
= 58,500 $
= 60% * (600,000)
= 360,000 $
= 364,500 $
I HOPE YOU GET IT AS WELL.
Head of Accounting Dept.&Deputy Admin Manager
Mob.: +966 59 016 2368 & +201023776570
Stefan Auer Shading Structures Company
P. O. Box 10680, Jeddah 21443, KSA, Tel: +96612 606-4663, www.sae-saudi.com
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