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The cost accountant for Sunset Fashions has compiled the following information for last quarter's operations: Administrative costs Merchandise inventory, April 1 $ 246,000 58,500 Merchandise inventory, June 30 Merchandise purchases Miscellaneous store costs Sales commissions Sales revenue Store lease Utilities Transportation-in costs Wages and benefits Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. 49,000 1,825,000 24,800 135,800 3,217,000 56,500 59,300 125,800 805,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a cost of goods sold statement. SUNSET FASHIONS Cost of Goods Sold Statement For the Quarter Ended June 30 Merchandise inventory, April 1 $ 58,500

The cost accountant for Sunset Fashions has compiled the following information for last quarter's operations: Administrative costs Merchandise inventory, April 1 $ 246,000 58,500 Merchandise inventory, June 30 Merchandise purchases Miscellaneous store costs Sales commissions Sales revenue Store lease Utilities Transportation-in costs Wages and benefits Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. 49,000 1,825,000 24,800 135,800 3,217,000 56,500 59,300 125,800 805,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a cost of goods sold statement. SUNSET FASHIONS Cost of Goods Sold Statement For the Quarter Ended June 30 Merchandise inventory, April 1 $ 58,500

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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The cost accountant for Sunset Fashions has compiled the following information for last quarter's operations: Administrative costs Merchandise inventory, April 1 $ 246,000 58,500 Merchandise inventory, June 30 Merchandise purchases Miscellaneous store costs Sales commissions Sales revenue Store lease Utilities Transportation-in costs Wages and benefits Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. 49,000 1,825,000 24,800 135,800 3,217,000 56,500 59,300 125,800 805,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a cost of goods sold statement. SUNSET FASHIONS Cost of Goods Sold Statement For the Quarter Ended June 30 Merchandise inventory, April 1 $ 58,500
Transcribed Image Text:The cost accountant for Sunset Fashions has compiled the following information for last quarter's operations: Administrative costs Merchandise inventory, April 1 $ 246,000 58,500 Merchandise inventory, June 30 Merchandise purchases Miscellaneous store costs Sales commissions Sales revenue Store lease Utilities Transportation-in costs Wages and benefits Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. 49,000 1,825,000 24,800 135,800 3,217,000 56,500 59,300 125,800 805,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a cost of goods sold statement. SUNSET FASHIONS Cost of Goods Sold Statement For the Quarter Ended June 30 Merchandise inventory, April 1 $ 58,500
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