Taylor Company uses a periodic inventory system. The following is partial information from its income statements for
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Fill in the blanks lettered a through f.
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2016 2017 $ (d) 140,000 inning inventory 220,000 118,000 2,000 Purchases Purchase retums Ending invenlory Gross profit Cost of goods sold 3,000 74,000 o77,000 48,000 106,000 (e) 65,000 2,000 15,000 Net income
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a Sales 220000 Less Cost of goods sold 106000 Gross profit 114000 ...View the full answer
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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