Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. Sales revenue Sales returns and allowances Net sales Beginning inventory Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 2024 $289,490 $ 11,810 21,890 5,030 8,240 232,300 45,380 2025 11,950 347,134 32,240 260,730 7,830 9,240 91,360 2026 $408,710 296,971 9,930 10,910 292,643 101,420

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
Sales revenue
Sales returns and allowances
Net sales
Beginning inventory
Ending inventory
Purchases
Purchase returns and allowances
Freight-in
Cost of goods sold
Gross profit on sales
2024
$289,490 $
11,810
21,890
5,030
8,240
232,300
45,380
2025
11,950
347,134
32,240
260,730
7,830
9,240
91,360
2026
$408,710
296,971
9,930
10,910
292,643
101,420
Transcribed Image Text:Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. Sales revenue Sales returns and allowances Net sales Beginning inventory Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 2024 $289,490 $ 11,810 21,890 5,030 8,240 232,300 45,380 2025 11,950 347,134 32,240 260,730 7,830 9,240 91,360 2026 $408,710 296,971 9,930 10,910 292,643 101,420
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