Question: eBook Determining Amounts for Items Omitted from Income Statement Two items are omitted in each of the following four lists of income statement data. Sales
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Determining Amounts for Items Omitted from Income Statement
Two items are omitted in each of the following four lists of income statement data.
Sales $432,000 $694,000 $1,292,750 $ (g)
Sales returns and allowances (a) 34,700 (e) 5,720
Sales discounts 17,280 20,820 51,710 8,750
Net sales 388,800 (c) 1,137,620 (h)
Cost of merchandise sold (b) 381,700 (f) 303,160
Gross profit 155,520 (d) 361,970 91,520
Determine the amounts of the missing items.
a. $
b. $
c. $
d. $
e. $
f. $
g. $
h. $
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