Question: E7.5 (LO 2) (Determining Merchandise AmountsPeriodic) Two or more items are omitted in each of the tabulations of income statement data shown below. 2024 2025

E7.5 (LO 2) (Determining Merchandise Amounts—Periodic) Two or more items are omitted in each of the tabulations of income statement data shown below.

2024 2025 2026 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 Instructions Fill in the amounts that are missing.

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