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Calculate the OPERATING EXPENSES

Calculate the OPERATING EXPENSES

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate the OPERATING EXPENSES. All of the following information may not be needed. Please Explain! Also don't use Al for this, I asked this problem multiple times and have gotten four different answers. Opening Inventory (Cost) S 148,000 Advertising $30,000 Gross Sales $496,000 Misc. Expenses $36,000 Purchases $240,000 Closing Inventory (Cost) $156,000 Customer Returns $ 51,600 Selling Salaries $52,000 Freight Charges $16,000 Wrapping & Packing $ 39,000 Rent $40,000 Alterations & Workroom $2,000 Cash Discount 2%
Transcribed Image Text:Calculate the OPERATING EXPENSES. All of the following information may not be needed. Please Explain! Also don't use Al for this, I asked this problem multiple times and have gotten four different answers. Opening Inventory (Cost) S 148,000 Advertising $30,000 Gross Sales $496,000 Misc. Expenses $36,000 Purchases $240,000 Closing Inventory (Cost) $156,000 Customer Returns $ 51,600 Selling Salaries $52,000 Freight Charges $16,000 Wrapping & Packing $ 39,000 Rent $40,000 Alterations & Workroom $2,000 Cash Discount 2%
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