Complete the following schedule which contains information from the financial statements of Pearl Co. Ltd. (Note: Solution without working does not gain marks) Beginning Net Net sales Ending COGS Inventory Purchases Inventory Gross Expenses Net Profit Income 320,000 48,000 181,333 ? 1,260,000 414,000 a. 176,000 ? 13,333 b. 333,000 882,000 378,000 297,000
Complete the following schedule which contains information from the financial statements of Pearl Co. Ltd. (Note: Solution without working does not gain marks) Beginning Net Net sales Ending COGS Inventory Purchases Inventory Gross Expenses Net Profit Income 320,000 48,000 181,333 ? 1,260,000 414,000 a. 176,000 ? 13,333 b. 333,000 882,000 378,000 297,000
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
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 4RE: Refer to RE6-3. Assume Long records accounts receivable and sales using the net price method....
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![Complete the following schedule which contains information from the financial
statements of Pearl Co. Ltd. (Note: Solution without working does not gain marks)
Beginning Net
Net sales
Ending
COGS
Inventory Purchases Inventory
Gross
Net
Expenses
Profit
Income
a.
320,000 48,000 181,333
?
176,000
?
?
13,333
b.
1,260,000 414,000
?
333,000 882,000 378,000 297,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16bd4fe0-edb6-4004-b8c3-78fca682340a%2F08301214-661d-45b6-9250-4a2e109318b8%2Fn7c1fk3_processed.png&w=3840&q=75)
Transcribed Image Text:Complete the following schedule which contains information from the financial
statements of Pearl Co. Ltd. (Note: Solution without working does not gain marks)
Beginning Net
Net sales
Ending
COGS
Inventory Purchases Inventory
Gross
Net
Expenses
Profit
Income
a.
320,000 48,000 181,333
?
176,000
?
?
13,333
b.
1,260,000 414,000
?
333,000 882,000 378,000 297,000
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