Question: Using your accounting knowledge, fill in the blanks in the following income statement: Particulars $ Sales 25,600 Cost of goods sold Opening Inventory 4,560 Total

Using your accounting knowledge, fill in the blanks in the following

Using your accounting knowledge, fill in the blanks in the following income statement: Particulars $ Sales 25,600 Cost of goods sold Opening Inventory 4,560 Total cost of merchandise 6,600 purchases Closing Inventory ??? a Cost of goods sold 7,000 Gross profit 18,600 Expenses 6,000 Net income ??? b

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