Jennifer Johnson296_ AC114 TEXTBOOK EXERCISES - UNIT 7 Homework

Jennifer Johnson296_ AC114 TEXTBOOK EXERCISES - UNIT 7 Homework

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Exercise 6-4 Name: Jennifer Johnson Section: Ac114 Enter the appropriate amount or label in the shaded cells. An asterisk (*) will appear next to an incorrect item or amount in the outlined cells. a. WEDGEFORTH COMPANY Schedule of Cost of Goods Sold Cost of merchandise sold: Merchandise Inventory, December 1, 2009 $210,000 Purchases $1,400,000 Less: Purchases returns and allowances $20,000 Purchases discounts 18,500 38,500 Net Purchases 1,361,500 Add: Freight in 14,100 Cost of merchandise purchased 1,375,600 Merchandise available for sale 1,585,600 Less: Merchandise Inventory, November 30, 2010 185,000 Cost of merchandise sold 1,400,600 b. Gross profit reported for the year ended November 30, 2010: $849,400
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Exercise 6-7 Name: Jennifer Joihnson Section: AC114 Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to or below an incorrect entry in the outlined cells. Account
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This note was uploaded on 01/28/2011 for the course AC 114 taught by Professor Irynaoreshkova during the Spring '10 term at Kaplan University.

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Jennifer Johnson296_ AC114 TEXTBOOK EXERCISES - UNIT 7 Homework

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