Evaluating profitability

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2 AaBbCcDdEe AaBbCcD AaBb L06-1.LO6-3.L06-8 Big Oak Lumber is a lumber yard on Angel Island. Some of Big Oak's transactions during the curent year are as folows Apr. 15 Sold lumber on account to Hard Hat Construction, $19,200. The inventory subsidiary ledger howsthe cost of this merchandise was $10.300. Apr. 19 Purchased lumber on account from LHP Company. $3,700 May 10 Collected in cash the $19.700 account receivable from Hard Hat Construction May 19 Paid the $3,700 owed to LHP Company Big Oak's personnel counted the inventory on hand and determined its cost to be $114,000. The accounting records . Dec. 31 however, indicate inventory of $116,500 and a cost of goods sold of $721.000. The physical coust of the inventory was observed by the company's auditors and is considered correet uses a perpetual inventory system.) $1.422.000.) cBig Oak e charges to receive delivery of merchandise These additional charges are inckhuded in the ancouot shows of