Question: Given the following and Using the Gross Profit Method, fill in the missing numbers. Show all calculations! Attached is the solution Given the following and

Given the following and Using the Gross Profit Method, fill in the missing numbers. Show all calculations! Attached is the solution

Given the following and Using the Gross Profit Method, fill in the missing numbers. Show all calculations Full Year, Last Yr. 1st 6 Mos., this yr. Sales Revenue Cost of G.S.Beg. Invent. Purchases Cost of Invent. Avail for Sale Less cost of ending invent. Cost of Goods Sold 652,500 72,315 575,131 647,446 128,517 412,000 624,574 518,929 Gross Margin 133,571 Oper. Expenses 159,440 Oper. Income/Loss (25,869) 85,413

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