Question: Current Attempt in Progress Sandhills Lumber is a medium-sized lumber company, competing with home improvement giants in nearby markets. This lumber yard has one type

 Current Attempt in Progress Sandhills Lumber is a medium-sized lumber company,
competing with home improvement giants in nearby markets. This lumber yard has
one type of inventory: Merchandise inventory. It tracks Merchandise inventory separately for
each of its product lines: lumber. flooring, and windows. The following shows

Current Attempt in Progress Sandhills Lumber is a medium-sized lumber company, competing with home improvement giants in nearby markets. This lumber yard has one type of inventory: Merchandise inventory. It tracks Merchandise inventory separately for each of its product lines: lumber. flooring, and windows. The following shows Saridhill's income statement for the most recent year. (Sandhills Lumber follows a similar methodolosy as Kohl's, also a merchandiser, in regard to classifying costs as either cost of sales or SGEA expenses.) Complete the incomestatement to reveal gross margin and operating income. Complete the income statement to reveal gross margin and operating income. The following summary transactions reflect Sandhills activity during the year

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