Question: I cannot figure my mistake for this question: Merchandise inventory (ending) 6 Safari File Edit View History Bookmarks Window Help 9 L2 4; 27%|El- Thu11:O7PM

I cannot figure my mistake for this question: Merchandise inventory (ending)

I cannot figure my mistake for this question: Merchandise inventory (ending) 6

6 Safari File Edit View History Bookmarks Window Help 9 L2 4;\" 27%|El- Thu11:O7PM Q 6 EE v 1 O O O El] Enewconneettmheducationtcom 1 .31 heck my work mode T 5 shows what correct or correct for the work you have completed so far It does not nd Cate complet n Return to question Exercise 4-1 Computing revenues, expenses, and income LO C1 25 Using your accounting knowledge. nd the missing amounts in the following separate income statements (Amounts to be deducted points should be indicated by a minus sign.) 6 Answer is oomplehe but not entirely correct. Sales 6 62.000 6 43.500 6 46.000 $ 79.000 0 6 25.600 Cost of goods sold Merchandise inventory (beginning) 8000 17.050 7.500 8.000 4.560 Total cosl of merchandise purchases 30.000 1.950 0 43.750 9 32.000 6.600 Merchandise inventory (ending) 1.100 a (3,000) (9.000) (6.600) 1.100 6 Cost or goods sold 34.050 16.000 42.250 0 33.400 0 7.000 Gross prot 21.950 9 27.500 0 3.750 45.600 18.600 0 Expenses 10.000 10.650 12.150 3.600 6.000 N oome (loss) 17.950 9 $ 16.850 $ (8.400) 42.000 12.600 0 M: 5'3\" Prev 1 of 4 Next )

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!