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The partial income statements of five different companies are as follows: 1 3 4 Net Sales Merchandise Inventory, 1/1/2020 Net Cost of Purchases Goods Available for Sale Merch. Inventory, 1/31/2020 Cost of Goods Sold a 250,000 290,000 70,000 400,000 120,000 390,000 50,000 80,000 110,000 40,000 8. 160,000 160,000 k 30,000 230,000 70,000 140,000 380,000 Gross Profit 50,000 40,000 160,000 Required: Replace the lettered blanks with the appropriate amounts.

The partial income statements of five different companies are as follows: 1 3 4 Net Sales Merchandise Inventory, 1/1/2020 Net Cost of Purchases Goods Available for Sale Merch. Inventory, 1/31/2020 Cost of Goods Sold a 250,000 290,000 70,000 400,000 120,000 390,000 50,000 80,000 110,000 40,000 8. 160,000 160,000 k 30,000 230,000 70,000 140,000 380,000 Gross Profit 50,000 40,000 160,000 Required: Replace the lettered blanks with the appropriate amounts.

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 nartial income statements of five different companies are as follows: 2 3 4 Net Sales Merchandise Inventory, 1/1/2020 Net Cost of Purchases Goods Available for Sale Merch. Inventory, 1/31/2020 Cost of Goods Sold a d 250,000 290,000 400,000 120,000 390,000 b 50,000 70,000 80,000 160,000 110,000 160,000 k m 40,000 30,000 70,000 140,000 230,000 380,000 Gross Profit 50,000 40,000 i 160,000 Required: Replace the lettered blanks with the appropriate amounts.
Transcribed Image Text:The nartial income statements of five different companies are as follows: 2 3 4 Net Sales Merchandise Inventory, 1/1/2020 Net Cost of Purchases Goods Available for Sale Merch. Inventory, 1/31/2020 Cost of Goods Sold a d 250,000 290,000 400,000 120,000 390,000 b 50,000 70,000 80,000 160,000 110,000 160,000 k m 40,000 30,000 70,000 140,000 230,000 380,000 Gross Profit 50,000 40,000 i 160,000 Required: Replace the lettered blanks with the appropriate amounts.
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