The following information is available for Tenor Music Store for the fiscal year ending December Finish Inventory 100,100 dollars Shipping cost 8 900 Purchase discounts 15 000 Initial inventory 79 000 Product Cost 450 000 Purchase returns and allowances 6 200 sales revenue 800 000 sales discount 12...

A To prepare the cost of goods sold statement for Tenor Music Store we need to calculate the followi ...

The following information is available for Tenor Music Store for the fiscal year ending December: Finish Inventory

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The following information is available for Tenor Music Store for the fiscal year ending December:

Finish Inventory	100,100 dollars
Shipping cost	8.900
Purchase discounts	15.000
Initial inventory	79.000
Product Cost	450.000
Purchase returns and allowances	6.200
sales revenue	800.000
sales discount	12.500

Necessary:

A) Prepare the cost of goods sold statement for Tenor Music Store.

B) Calculate the gross margin for the fiscal year ended December 31.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470161012

9th Canadian Edition, Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

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Posted Date: May 20, 2023 11:50 AM

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The following information is available for Tenor Music Store for the fiscal year ending December: Finish Inventory

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A To prepare the cost of goods sold statement for Tenor Music Store we need to calculate the followi... View the full answer

Intermediate Accounting

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