AC114_Unit 7 - Exercise 6-4 Name: Section: Enter the...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Exercise 6-4 Name: Section: 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 For the Year Ended November 30, 2010 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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Exercise 6-7 Name: Section: 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
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/27/2012 for the course ACCT AC114 taught by Professor Lewis during the Spring '12 term at Kaplan University.

Page1 / 4

AC114_Unit 7 - Exercise 6-4 Name: Section: Enter the...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online