5-8 - Learning Objective: 05-C4 (b) Sales $ 58,622 Cost of...

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Page 8 of 11 http://ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx?todo=printview 6. award: 1 out of 1 point 7. award: 1 out of 1 point Cost of goods sold 34,950 Gross profit 47,850 Expenses 9,000 Net income (loss) $ 38,850 (b) Sales $ 58,622 Cost of goods sold Merchandise inventory (beginning) 3,507 Total cost of merchandise purchases 22,139 Merchandise inventory (ending) (3,714) Cost of goods sold 21,932 Gross profit 36,690 Expenses 10,650 Net income (loss) $ 26,040 Worksheet Learning Objective: 05-C1
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Unformatted text preview: Learning Objective: 05-C4 (b) Sales $ 58,622 Cost of goods sold Merchandise inventory (beginning) 3,507 Total cost of merchandise purchases 22,139 Merchandise inventory (ending) (3,714) Cost of goods sold 21,932 Gross profit 36,690 Expenses 10,650 Net income (loss) $ 26,040 (c) Sales $ 50,094 Cost of goods sold Merchandise inventory (beginning) 10,519 Total cost of merchandise purchases 46,988 Merchandise inventory (ending) (12,019)...
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This note was uploaded on 08/09/2010 for the course ACCT 1 taught by Professor Ludwig during the Spring '10 term at Los Angeles City College.

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