D P Sales S 68,000 $ 43,600 $ 56,000 $ 25,500 Cost of goods sold Merchandise inventory, beginning 8,000 16,950 6,500 7,400 4,550 Total cost of merchandise purchases 59,000 29,000 5,200 Merchandise inventory, ending 2,500 8,100 7,100 Cost of goods sold 33,720 17,000 7,600 Gross profit 13,050 48,200 Expenses 22,000 10,420 12,300 4,400 6,800 Net income (loss) $ 16,180 $ 750 $ 43,800

D P Sales S 68,000 $ 43,600 $ 56,000 $ 25,500 Cost of goods sold Merchandise inventory, beginning 8,000 16,950 6,500 7,400 4,550 Total cost of merchandise purchases 59,000 29,000 5,200 Merchandise inventory, ending 2,500 8,100 7,100 Cost of goods sold 33,720 17,000 7,600 Gross profit 13,050 48,200 Expenses 22,000 10,420 12,300 4,400 6,800 Net income (loss) $ 16,180 $ 750 $ 43,800

Name: Fill in the blanks in the following separate income statements a thro
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Description: Fill in the blanks in the following separate income statements a through e.SalesabCdS68,000 $43,600 $56,000$69e25,500Cost of goods soldMerchandise inventory, beginning8,00016,9506,5007,4004,550Total cost of merchandise purchases59,00029,0005,200Merc

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 7MCQ

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