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Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing.   2019   2020   2021 Sales revenue $290,000 $   ?    $410,000Sales returns and allowances11,00013,000?   Net sales?   347,000?   Beginning inventory20,00032,000?   Ending inventory?   ?   ?   Purchases?   260,000298,000Purchase returns and allowances5,0008,00010,000Freight-in8,0009,00012,000Cost of goods sold233,000?   293,000Gross profit on sales46,00091,00097,000

Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing.   2019   2020   2021 Sales revenue $290,000 $   ?    $410,000Sales returns and allowances11,00013,000?   Net sales?   347,000?   Beginning inventory20,00032,000?   Ending inventory?   ?   ?   Purchases?   260,000298,000Purchase returns and allowances5,0008,00010,000Freight-in8,0009,00012,000Cost of goods sold233,000?   293,000Gross profit on sales46,00091,00097,000

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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Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing.

 
 2019 
 
 2020 
 
 2021 
Sales revenue
 
$290,000
 
$   ?   
 
$410,000
Sales returns and allowances
11,000
13,000
?   
Net sales
?   
347,000
?   
Beginning inventory
20,000
32,000
?   
Ending inventory
?   
?   
?   
Purchases
?   
260,000
298,000
Purchase returns and allowances
5,000
8,000
10,000
Freight-in
8,000
9,000
12,000
Cost of goods sold
233,000
?   
293,000
Gross profit on sales
46,000
91,000
97,000

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