Question: Using your accounting knowledge, fill in the missing blank (1 thru 8) for Company X, Company Y and Company Z. Indicate negative amounts with parenthesis.
Using your accounting knowledge, fill in the missing blank (1 thru 8) for Company X, Company Y and Company Z. Indicate negative amounts with parenthesis.
| Company X | Company Y | Company Z | |
| Sales | $16,000 | $48,000 | (6) |
| Cost of Good Sold | |||
| Inventory (beginning) | $16,000 | (4) | $22,000 |
| Purchases of merchandise | (1) | $19,000 | $30,000 |
| Inventory (ending) | $24,000 | $17,000 | (7) |
| Cost of Goods sold | $32,000 | $22,000 | $24,000 |
| Gross Profit | (2) | $26,000 | $29,000 |
| Expenses | $12,000 | $15,000 | (8) |
| Net Income (loss) | (3) | (5) | $7,000 |
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