Unformatted text preview: $795,600 Less: Ending finished goods inventory 10,200 Cost of goods sold $785,400 3) Photosmart, Inc. Income Statement: Absorption Costing For the Year Ended December 31 Sales $1,232,000 Cost of goods sold 785,400 Gross margin $446,600 Less operating expenses: Commissions $38,500 # Administrative expenses 83,000 # Advertising copayments 36,000 157,500 # Operating income $289,100...
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This note was uploaded on 11/05/2009 for the course BUS ACC202 taught by Professor Achillies during the Spring '09 term at NC Wesleyan.
- Spring '09
- Managerial Accounting