None Complete this question by entering your answers in the tabs below.COGM andCOGS StmtsIncome StmtPrepare a cost of goods manufactured and sold statement and an income statement.Omira Cycle PartsIncome Statement+For the Year Ended December 31Sales revenue$ 22,756,000Less: Cost of goods sold13,802,000Gross margin$8,954,000Administrative salaries966,000Attorney fees to settle zoning dispute120,800Marketing costs524,000Distribution costs23,000Total operating costsOperating profit< COGM and COGS Stmts1,633,800Income Stmt

Omira Cycle Parts Financial StatementsIncome StatementFor the Year Ended December 31Line Item…

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Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...

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The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
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