Using the following information from Char Company, prepare an income statement through operating income for the year:
Question:
Using the following information from Char Company, prepare an income statement through operating income for the year:
Sales ................. $900,000
Finished goods inventory, beginning ...... 45,000
Cost of goods manufactured ......... 585,000
Finished goods inventory, ending ....... 60,000
Operating expenses ............ 275,000
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