Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $591,000 Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 302,000 68.000 14,000 43.000 42.000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $206,000 O B. $523,000 OC. $274,000 O D. $317,000
Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $591,000 Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory 302,000 68.000 14,000 43.000 42.000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $206,000 O B. $523,000 OC. $274,000 O D. $317,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 11RE: Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year,...
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