Fill in the blanks in the following separate income statements a through e Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ a 71,000 $ 7,200 31,000 33,000 19,000 $ b 44,300 $ 16,800 2,600 17,000 10,000 17,300 $ C 49,000 5,500 7,900 44,000 8,300 5,200 14,650 13,100 d 1,550 $ 44,900 4,000 40,900 $ e 24,400 4,400 6,300 7,700 7,000

Fill in the blanks in the following separate income statements a through e Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ a 71,000 $ 7,200 31,000 33,000 19,000 $ b 44,300 $ 16,800 2,600 17,000 10,000 17,300 $ C 49,000 5,500 7,900 44,000 8,300 5,200 14,650 13,100 d 1,550 $ 44,900 4,000 40,900 $ e 24,400 4,400 6,300 7,700 7,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter11: Accounting For Purchases And Cash Payments

Section: Chapter Questions

Problem 4MC: The difference between merchandise available for sale and the end-of-period merchandise inventory is...

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