E6A- 29 Computing periodic inventory amounts Consider the data of

Computing periodic inventory amounts Consider the data of the following companies:


E6A- 29 Computing periodic inventory amounts Consider the data of


Requirements

1. Supply the missing amounts in the preceding table.

2. Prepare the income statement for the year ended December 31, 2015, for Red Company, which uses the periodic inventory system. Include a complete heading and show the full computation of cost of goods sold. Red’s operating expenses for the year were $11,000.

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