Two or more items are omitted in each of the following tabulations of income statement data. Fill
Question:
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing.
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2019 2020 2021 $ ? Sales revenue $290,000 $410,000 Sales returns and allowances 11,000 13,000 ? Net sales 347,000 ? Beginning inventory Ending inventory 20,000 32,000 ? ? Purchases 260,000 298,000 Purchase returns and allowances 5,000 8,000 10,000 Freight-in Cost of goods sold Gross profit on sales 12,000 8,000 9,000 233,000 293,000 46,000 91,000 97,000
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Related Book For
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
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