Gross Sales Sales returns Goods Sold Net Ending Profit Beg Inventory Purchases Inventory Net Sales (Loss) 5,000 80,000 24,000 130,000 38,000 2 126,000 6,000 48,000 145,000 46,500 3. 7,200 264,800 167,000 62,800 186,200

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sole only question 3

Cost of
Goods
Sold
Gross
Sales
Net
Ending
Profit
Beg
Inventory Purchases Inventory
Net
Sales
returns
Sales
(Loss)
1
5,000
80,000
24,000
130,000
38,000
2 126,000
6,000
48,000
145,000
46,500
3.
7,200 264,800
167,000
62,800 186,200
Transcribed Image Text:Cost of Goods Sold Gross Sales Net Ending Profit Beg Inventory Purchases Inventory Net Sales returns Sales (Loss) 1 5,000 80,000 24,000 130,000 38,000 2 126,000 6,000 48,000 145,000 46,500 3. 7,200 264,800 167,000 62,800 186,200
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