Two or more items are omitted in each of the tabulations of income statement data shown below.
Question:
Two or more items are omitted in each of the tabulations of income statement data shown below.
Instructions
Fill in the amounts that are missing.
Transcribed Image Text:
2021 2022 2023 Sales revenue £290,000 £ ? £410,000 Sales returns and allowances 6,000 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 238,000 ? 303,000 Gross profit on sales 46,000 91,000 97,000
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please see the answers below 2021 2022 2023 Sales revenue 29000000 36000000 41000000 Sales returns and allowances 600000 1300000 1000000 Net sales 284...View the full answer
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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