Question: Determining Amounts for Items Omitted from Income Statement Two items are omitted in each of the following four lists of income statement data. Sales $374,250

Determining Amounts for Items Omitted from Income Statement

Two items are omitted in each of the following four lists of income statement data.

Sales $374,250 $632,800 $1,290,750 $ (g)
Sales returns and allowances (a) 31,640 (e) 6,770
Sales discounts 14,970 18,980 51,630 10,360
Net sales 336,825 (c) 1,135,860 (h)
Cost of merchandise sold (b) 348,040 (f) 358,810
Gross profit 134,730 (d) 361,410 108,320

Determine the amounts of the missing items.

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