Question: Question 1 /iew Policies Current Attempt in Progress in your audio ad Lewis Company. you find that physical story on December 31, 2000 showed merchandise

Question 1 /iew Policies Current Attempt in Progress in your audio ad Lewis Company. you find that physical story on December 31, 2000 showed merchandise with a cost of $40.770 was on hand at that do you to discover the following items were all excluded from the $410.770 1. Merchandise of $61.520 which is held by Lewis on consignment. The consignor is the Max Suzuki Company 2. Merchandise costing $36,000 which was shipped by Lewisto.b.destination to a customer on December 31, 2020. The customer was expected to receive the merchandise on January 6, 2021. 2. Merchandise costing $49,580 which was shipped by Lewis fo.b. shipping point to a customer on December 29,2020. The customer was scheduled to receive the merchandise on January 2, 2021 4. Merchandise costing $90,200 shipped by a vender fo.b.destination on December 30, 2020, and received by Lewis on January 4, 2021. 5. Merchandise costing $49.250 shipped by a vendor fo.b. shipping point on December 31, 2020, and received by Lewis on January 5, 2021 In December 2000 All of Current Attempt in Progress Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $288,230 $ $409,650 Sales returns and allowances (11,030) (13,510) Net sales 344,743 Beginning inventory 21,300 29,280 Ending inventory 298,306 Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,500) 7,290 261,900 (8,680) 8,480 (9,160) 11,480 (229,080) (295,064) 105,390 48,120 97,640
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
