Camping is Fun has a Merchandise Inventory account balance of $2,000 and an unadjusted Cost of Goods Sold of $2,200. Calculate the cost of goods sold under the following different situations:
a) Physical count shows $2,000 of Merchandise Inventory on hand.
b) Physical count shows $2,250 of Merchandise Inventory on hand.
c) Physical count shows $1,980 of Merchandise Inventory on hand.

Question

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The Answer of Camping is Fun has a Merchandise Inventory account balance of $2,000 and an unadjusted Cost of Goods Sold of $2,200. Calculate the cost of goods sold under the following different situations:
a) Physical count shows $2,000 of Merchandise Inventory on hand.
b) Physical count shows $2,250 of Merchandise Inventory on hand.
c) Physical count shows $1,980 of Merchandise Inventory on hand.

Camping Is Fun Has a Merchandise Inventory Account Balance of $2,000