Question

Tropical Tanning Supply’s income statement data for the year ended October 31, 2012, follow.
Sales Revenue ..... $ 241,500
Cost of Goods Sold ... 147,800
Gross Profit ...... $ 93,700

Assume that the ending inventory was accidentally overstated by $5,900.

What are the correct amounts for cost of goods sold and gross profit?



$1.99
Sales0
Views27
Comments0
  • CreatedApril 29, 2014
  • Files Included
Post your question
5000